Fedspeak also high on the agenda
Moody's was just out with a note on US homebuilders, raising its outlook on the sector to neutral from negative. I get a kick out of how far behind the curve that ratings agencies constantly are.
We get the August US existing home sales report today and it's expected to continue to show a low-rate-driven boom with 6.00m sales, up from 5.86m in September.
Other parts of the economy are far more uncertain. One is manufacturing and that's why the housing data will probably be overshadowed by the Ricmond Fed, which is also at 10 am ET (1400 GMT). The consensus is a slip to +12 from +18.
At the same time we also get speeches from the ECB's Lane, the Fed's Evans and the Eurozone consumer confidence report.
Thirty minutes later at 1430 GMT we hear from Powell and Mnuchin. The text of Powell's speech was already released but he will take questions.
Later we get more Fedspeak with Barkin at 1600 GMT and Bostic at 1900 GMT.
