No US data today

The lone item of interest in terms of economic data today is the US monthly budget statement. That's going to be another eye-popping number with a likely deficit of $863B for June but it's not likely to move the market.

Otherwise, it's quiet for Canada and the US. We will hear from the BOE's Bailey at the top of the hour.

The rest of the week is more lively:

Tuesday:

  • CPI
  • Fed's Brainard

Wednesday:

  • Empire Fed
  • Industrial production
  • Beige Book

Thursday:

  • Retail sales
  • Initial jobless claims
  • Housing starts

Friday:

  • U Mich consumer sentiment
  • Fed's Williams