US President Joe Biden is due to deliver the State of the Union address before a joint session of the 117th Congress in the chamber of the House of Representatives at the Capitol, in Washington DC.
The speech is scheduled at 9 pm EST (local time), which is 2 GMT, which could stretch for roughly an hour.
Biden is expected to speak on the topics of inflation and the Russia-Ukraine war, with a source familiar with the text confirming that the president’s address had been revised to emphasize the invasion of Ukraine “as a major crisis facing the West,” per the Washington Post (WaPo).
White House Press Secretary Jen Psaki reiterated that Biden “absolutely” would address inflation in his speech and call on Congress to act accordingly.
Meanwhile, Iowa Gov. Kim Reynolds will deliver a live speech from Des Moines in response to Biden’s remarks.
Watch the live stream here
How will it affect the market?
Any comments on the inflation outlook and the Ukraine crisis will have a significant impact on the risk sentiment, affecting the US dollar valuations and the stock futures alongside.
Traders will also watch for fresh moves in gold price, after the bright metal rebounded firmly to test $1,950 late Tuesday.
About US President Biden
Joe Biden is the 46th President of the United States. Biden will serve as President for a four-year term, from January 2021 to January 2025. The well-known Democrat has almost 50 years of political service, including eight years as the Vice-President under Barack Obama between 2008 and 2016.