The muzzles are off the Fed officials after last week's FOMC decision.
Yesterday we heard from Bostic, Barkin, Daly, and George. Today, Fed's Harker and Bullard are expected to speak.
The economic calendar is pretty full on the first day of the calendar month:
- Canada November GDP will be released at 8:30 AM with expectations of 0.4% after last month 0.8% increase
- US Markit PMI will be released at 9:45 AM ET with expectations of 55.0 unchanged from the last forecast
- US JOLTs job openings for December will be released at 10 AM ET to come in at 10.35M which is down from 10.562M but still remains high
- US ISM manufacturing PMI will also be released at 10 AM ET with expectations of 57.4 versus 50.7 last month. The price index is expected at 67.6 versus 68.2 last month
- US construction spending is expected 0.7% versus 0.4% last month. It also will be released at 10 AM ET
Also scheduled to be released today would be New Zealand global dairy trade price index. The price index rose 4.6% at the last auction.
Looking ahead into the Asian session, New Zealand will report their employment change at 4:45 PM ET with expectations of 0.4% for the quarter versus 2.0% last quarter. The unemployment rate is expected at 3.3% versus 3.4% and the labor cost index is expected to rise by 0.9% versus 0.7%.
