The economic calendar includes another test for the US consumer
Housing starts up first
Low interest rates have given the US housing market a bump, but not a jolt; at least not yet. The housing starts number for December is due at the bottom of the hour and expected at 1380K. There is higher demand for low cost housing and there's some evidence that builders are pivoting in that direction as +500K houses languish on the market.
Next is the December industrial production report at 1415 GMT.
The one to watch is the prelim January U Mich consumer sentiment report at 1500 GMT. The consensus is no change from December's final 99.3 reading.
And speaking of jolts, we get the JOLTS report for November at 1500 GMT.
Also keep an eye on Baker Hughes at 1800 GMT.
In terms of Fedspeak we get Harker at 1400 GMT and Quarles at 1745 GMT.
For more see the economic calendar and note the foreign exchange reference in the song.