It’s a new week and economic data is going to be a key factor as the market (and the Fed) gauges how quickly the economy and inflation are slowing.
Data begins at 9:45 a.m. ET with the final S&P Global manufacturing PMI. The preliminary was 52.3.
The main events are at 10 a.m. ET with the ISM survey on manufacturing and construction spending. The ISM is expected to slip from 53.0 to 52.0, but I was surprised by the strength of the regional surveys, so there are upside risks. Construction spending is forecast down 0.1%.
Canada is on vacation today and there is no Fedspeak scheduled, but I wouldn’t be surprised if someone checked in.
cnbctv18-forexlive
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