The US is back from a de facto four-day weekend and that’s led to some choppy dollar trading. S&P 500 futures are down 23 points to 4469 in a sign of the sour mood to start the week.
Notably, it’s non-farm payrolls week and that will pace things in the build up to Friday.
For today, I wouldn’t expect any fireworks on economic data as we get factory orders at 10 am ET and the Fed minutes at 2 pm ET. The later has more potential for drama but the minutes are usually more of a landmine than a goldmine. The market is pricing in an 85% chance of a hike in July.
For more, see the economic calendar.