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    US: Fed Chair Yellen’s testimony is the major event this week - BNZ Sandeep Kanihama

    Research Team at BNZ, suggests that the Fed Chair Yellen’s testimony before the Senate (Tuesday) and the House (Wednesday) are the major US events this week.Key Quotes“As well as the usual questioning on the state of the US economy and the outlook for monetary policy, she is likely to be questioned closely on the upcoming UK referendum and what preparations the Fed is making in the lead up to Thursday’s vote and her expectations. The Fed’s Kashkari (Monday), Powell (Wednesday), and Kaplan (Friday) are also speaking this week.The data flow gets underway mid-week in earnest with Existing Home Sales Wednesday, then weekly Jobless Claims, Chicago Fed National activity index, Markit Manufacturing PMI, New Home sales, Leading Index, and the Kansas City Fed Manufacturing activity all Thursday. Durable goods orders and the University of Michigan Consumer sentiment final June survey round out the week on Friday.”

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