What's coming up in North American trade
The US and Canada return from holiday to a light economic calendar today. There is no major economic data but there are a few notable items.
The first is a speech from Mester at 1350 GMT. She's a hawk but has eased off along with the rest of the Fed in the past six weeks. It's tough to imagine her saying anything that would rattle markets but the topic is the economic outlook and monetary policy.
The lone data point comes at 1500 GMT with the US NAHB housing market index. Homebuilder sentiment is forecast to tick up to 59 from 58 as we get an early taste of whether lower rates will help the housing market.
