Morning Traders!
It is Tuesday the 7th of March, and today is the day of the much-awaited 1st semi-annual testimony from Fed's Chairman Powell.
Here are some things to look out for today.

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The dollar and treasuries rose this morning as investors awaited any policy message from Federal Reserve Chair Jerome Powell when he testifies before Congress later today.
After the latest inflation data exceeded analysts' expectations, the Australian dollar fell after the country's central bank indicated that a pause in its 10-month tightening cycle is possible, while the pound fell after a Bank of England policymaker said the currency could fall further.
European stocks reversed a loss, while US equity futures rose slightly.

On Tuesday, Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee, and on Wednesday, he addresses the House Financial Services Committee. Newswire analysts expect him to signal that the Fed is prepared to raise rates higher than the dot plot indicated in December if inflation prints continue to exceed expectations.

US payroll growth has exceeded expectations for ten consecutive months, the longest streak in decades, a trend that, if sustained, will increase pressure on the Fed to keep raising interest rates.


10:00 AM ET
US Wholesale Inventories MoM January Revised
Median Forecast -0.4% | Prior -0.4% | Range -0.3%/-0.4%

12:00 PM ET
EIA Short-Term Energy Outlook

3:00 PM ET
US Consumer Credit for January
Median Forecast $25.350B | Prior $11.565B | Rnage: $40B / $7.3B


8:30 AM ET
Fed's Powell makes a semi-annual testimony before the Senate Banking Committee.
This event is scheduled to begin at 10:00 AM ET, however, the text of Powell's opening remarks are historically released early, around 8:30 - 9:30 AM ET.

12:30 PM ET
SNB's Chairman Jordan speaks in Zurich

4:20 PM ET
BoE's Dhingra



Good luck today!