The Federal Reserve chairman Ben Bernanke will testify on the outlook for the U.S. economy before the Joint Economic Committee of Congress at 10:00 am ET.
Around the same time, the National Association of Realtors is set to release its existing home sales report for April at 10:00 am ET. Economists expect existing home sales to come in at a seasonally adjusted annual rate of 5 million units compared to 4.920 million units in the previous month.
The US dollar held steady against its major counterparts ahead of congressional testimony and the data. As of 9:55 am ET, the greenback was trading at 1.2945 against the euro, 1.5098 against the pound, 0.9735 against the Swiss franc and 103.02 against the yen.
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