What's coming up in North American trade

Here's a rundown on data schedule:

  • 1230 GMT (8:30 am ET) Philly Fed
  • 1230 GMT Initial jobless claims
  • 1230 GMT Canada ADP employment
  • 1345 GMT Markit services PMI
  • 1345 GMT Markit manufacturing PMI
  • 1400 GMT Existing home sales
  • 1400 GMT Fed's Williams
  • 1700 GMT Fed's Clarida
  • 1830 GMT Fed's Powell and Brainard

At this point, we all know how the market reacts to negative economic data (it's ignored) but there's a decent chance of a beat on the PMIs and the Philly Fed so I'm interested to see the market reaction to that. If it's good, many of the recent ranges are likely to break.

For more details, check the economic calendar.