Little notable changes across the board as traders look towards the US session
Sterling is starting to give back some of its earlier gains from the labour market report release, but there hasn't been anything else that is too notable. The dollar remains relatively weak across the board alongside the yen, with markets flat everywhere else.
Treasuries are basically unchanged on the day, same goes for European stocks and US equity futures. It's looking quiet now as traders are looking towards Fed chair Powell and his testimony later on - as well as earnings releases.
I don't believe Powell will offer anything new and it will likely just be a reiteration of things we already know from the June Fed policy meeting. These testimonies usually tend to be a grilling of some sorts - like what we saw when Yellen was in charge - so don't expect it to deliver too much details that we don't already know.
If anything, maybe look out for what Powell has to say if the issue of a flattening yield curve is brought up. That'd be something interesting at least.
