Today, Federal Reserve Chairman Ben Bernanke will testify to the U.S. Joint Economic Committee on the economic outlook. Bernanke’s testimony is followed by publication of the minutes of the latest Federal Open Market Committee meeting from 1 May. Investors will weigh prospects of a possible earlier-than-anticipated end to the central bank’s ultra expansive monetary policy bias. The FOMC minutes are scheduled for release at 8pm CET.
Before, the National Association of Realtors, will present its report on existing home sales (4pm CET). Economists forecast a 1.4% gain in April, bringing the annual rate to 4.99m houses, from 4.92m a month earlier, when sales of existing homes fell 0.6%.