Its beginning to feel like Asia FX is going to sit on hand awaiting Powell on Tuesday, and perhaps some feedback from him on the jobs report Friday, ICYMI:

On Tuesday, 9 July 2024, at 1400 GMT / 1000 US Eastern time Powell delivers his semi-annual monetary policy testimony before the Senate Banking Committee, in Washington.

This is colloquially known as the Humphrey-Hawkins testimony. In it the Fed reports on its monetary policy and economic goals to the Congress.

Powell will:

  • provide an overview of current economic conditions, and give an update of the Fed's outlook for the economy, centring on an assessment of the inflation and employment outlook
  • discuss the Fed's monetary policy position currently, including in interest rates
  • take questions from the geniuses in members of Congress, which will cover a range of topics across areas such as how specific economic sectors are faring, regulatory policies, and global economic issues
Powell in the Matrix