Markit US manufacturing PMI due at 9:45 am ET (1445 GMT)
The Markit PMI seems to get a bit more attention each month as it competes with a raft of regional and national US manufacturing data.
It's expected to slip to 51.0 from 51.2 in the final December reading.
There is little doubt that US manufacturing will struggle due to the US dollar but it's more a question of 'when'. Even if it does, a resurgence in the consumer and continue gains in housing could mask the effects on the broader economy. US manufacturing is just 12% of GDP.
Market impact
The Markit PMI is the top economic release today. It's followed 15 minutes later by existing home sales and the leading index from the Conference Board but those are low-tier indicators.
Still, don't expect much of a market reaction. The ebb and flow of sentiment and oil trading is driving markets at the moment.
