US weekly initial jobless claims are the lone data point on the calendar today. The market is entirely comfortable with the state of the jobs market and the consensus is 200K. If we see a higher reading some questions about weakness might start to creep in but it's way too early for a market reaction.
Instead, the market will be focused on comments from FOMC members. That starts with Bullard and 9 am ET. The St Louis Fed president is always happy to toss a hawkish grenade into the mix but that shouldn't come as any surprise and I doubt it moves the market.
Then we skip ahead to 2 pm when the Fed's Bostic and Evans are on a panel on economic mobility. We haven't heard from Bostic lately and he tilts a bit hawkish; I'll be interested to see if he pushes for 50 bps.
Then at 4:05 pm ET, it's the Fed's Williams.
The larger market mover in terms of FX could be the Canadian dollar with the highly-anticipated federal budget coming today at 4 pm ET. Yesterday, it leaked that the country will ban foreign ownership of housing for two years. What doesn't tend to leak are taxation changes and Trudeau could surprise with something on capital gains; there are also rumblings about a windfall tax on banks and insurance companies.
In terms of the overall fiscal picture, the December update projected a deficit of $58.4B in this fiscal year.
