Plenty of potential market movers
The economic calendar today starts off with top-tier Canadian data then shifts towards US manufacturing and housing, followed by waves of Fedspeak. All that should keep volatility high in what's been a lively week.
Up first at the bottom of the hour is Canadian retail sales. The prior report was strong with sales up 1.7% ex autos and this one is forecast at +0.4%. So far there are no indications that the BOC will follow other central banks with cuts and market pricing for lower rates is minimal.
US data kicks off at 1345 GMT (9:45 am ET) with the preliminary Markit manufacturing and services PMIs. This will be closely watched for signs of a negative turn in the economy.
At 1400 GMT, it's the May existing home sales report. That probably won't be a market mover but a pickup would show some rate-sensitivity from buyers.
The Fed talk starts at 1600 GMT with Brainard and Mester at an event in Cincinnati. Another one to watch at the same time will be the ECB's Nowotny giving an award to George Soros in Vienna.
The chatter wraps up with Daly hosting a podcast on community economics at 1900 GMT in what sounds like a dud.
