Empire Fed tops the US economic calendar today
Manufacturing in focus today
It's the day before the FOMC decision and that might keep a lid on volatility, especially with no top-tier economic data to come.
There are a few notable releases at the bottom of the hour led by the Empire Fed manufacturing survey for September. The consensus is an improvement to +6.8 from +3.7 and if anything is going to move the market it will be this.
At the same time, the July Canadian manufacturing sales report is out.
Sticking with Canada, the August existing home sales number will come at 1300 GMT (9 am ET). Low rates have added another leg to the housing boom in the country and sales are forecast to rise 8.0% in August.
Fifteen minutes later, US industrial production for August is forecast to rise 1.0%
Lastly, we will get a 20-year US Treasury auction. Last week's 30-year sale halted a streak of soft sales.