In about 20 minutes we get the Chicago PMI report…
Given the soft regional Fed survey data for June, I’ll go out on a limb and say PMI will be weak. Last time I did that, it blew up in my face like a cigar, so be forewarned.
The market expects a modest drop to 59.0 from 59.7.
EUR/USD is somewhat softer after ADP took the steam out of the euro recovery. Risk aversion in in the air…It trades at 1.2242.
