Canada returns from holiday
Canadian markets missed out on yesterday's fun so it will be a game of catch-up today. That could bounce around the Canadian dollar as we sift through it all.
The focus is mostly going to be on China-US relations, the yuan and other markets today. Stocks are poised for a rebound with S&P 500 futures up 27 points to 2857. That's 80-points above the lows.
Today's economic data is limited to JOLTS at 1400 GMT. I don't believe data is going to have much of an effect for the remainder of the month with all the focus now on trade.
However Fed talk will have an effect. Super-dove James Bullard will be speaking at the same time as the JOLTS report. I see a risk that he's not as dovish as markets expect. He's been pining for a cut but I don't think he wants to see the four more cuts that markets are pricing in over the next year.
Larry Kudlow will also be on CNBC at 9 am ET. We will be watching out for comments from Trump or PBOC throughout the day.
For more, see the economic calendar.
