Economic calendar: FED Chair Powell Testimony

• EU Consumer Confidence
• Powell to testify before House panel

It’s another relatively quiet day ahead when it comes to the economic calendar. Flash consumer confidence figures for the Eurozone will be released late in the European session.  Yesterday ECB President Lagarde pointed to a faster than expected economic recovery driven by consumer spending. Weak data may challenge this optimism.

Later in the day, investors' attention will focus on Federal Reserve Chairman Jerome Powell's congressional testimony. The markets will be looking for any deviation from last week’s hawkish stance. In prepared remarks ahead of today's hearing, Powell reiterated that the central bank will continue its supportive stance to ensure the "sustained improvement" of the economy.

3:00 pm BST - Eurozone, Consumer Confidence Flash (JUN). Expected -3.Previous -5.1.

3:00 pm BST - US, Existing Home Sales (MoM)(May). Expected 5.72 M. Previous 5.85 M.

3:00 pm BST - US, Richmond Fed Manufacturing Index(Jun). Previous 18.

7:00 pm BST - Fed Chairman Powell testifies.

9:30 pm BST - API Weekly Crude Oil Stock. Previous -8.537 M

Central bankers’ speeches

• 3:00 pm BST - ECB Lane 
• 6:30 pm BST - ECB Schnabel  
• 4:00 pm BST - FOMC Member Daly