Powell will testify on the semiannual monetary policy report at 1400 GMT

Powell

This will be the first of two days of the usual "grilling" session with US lawmakers, in which Powell will outline what the Fed is doing to help the economy navigate through these testing and uncertain times.

Just take note that whatever he is going to be touching on has already been released here.

But it will still be important to pay attention to his remarks later in the day just in case. That said, I would expect Powell to reiterate much of the same from last week i.e. the need for more accommodative policy amid the dragged out economic recovery.

At the same time, he should also reinforce the appropriateness of the Fed's recent measures and its Main Street Lending program, while also calling for more fiscal support.

Powell will be due to speak later at 1400 GMT and he will appear again before the Financial Services Committee at 1600 GMT tomorrow.