AFP, New York :
Global stocks mostly fell Tuesday ahead of key congressional testimony by Federal Reserve Chair Jerome Powell, while the dollar advanced again on anticipation the commentary could be less dovish than expected.
Powell is set to testify Wednesday in what will be his first extensive public appearance since a strong June jobs report dampened expectations for aggressive Fed action.
Futures markets still overwhelmingly believe the Fed will cut later this month but expectations have shifted to a smaller interest rate decrease than had been contemplated prior to the jobs data.
Global stocks mostly fell Tuesday ahead of key congressional testimony by Federal Reserve Chair Jerome Powell, while the dollar advanced again on anticipation the commentary could be less dovish than expected.
Powell is set to testify Wednesday in what will be his first extensive public appearance since a strong June jobs report dampened expectations for aggressive Fed action.
Futures markets still overwhelmingly believe the Fed will cut later this month but expectations have shifted to a smaller interest rate decrease than had been contemplated prior to the jobs data.
