USD/JPY has rebounded 80 pips, stock futures have erased most of yesterday’s decline and suddenly the economic outlook is a bit better.
That could change quickly when December ADP data is released at 8:15 am ET (1315 GMT). The consensus is for 225K new jobs in December compared to 208K expected. There was some chatter about soft retail hiring over the holidays so the market might be skewed to the downside.
Later, data on US & Canadian trade balance, the Ivey PMI and FOMC minutes are due.
