Read full post at forexlive.com
“I think it’s going to be a
material drop. I just don’t know how much because we need to wait for the data.
But all the scientists I’ve talked to… are like, ‘This is not going to be
good’.”
To be fair, he said much of the same thing on Monday and other officials aren’t so pessimistic.
In any case, the economic calendar today kicks off with Canadian GDP at 8:30 am ET (1330 GMT) and is expected to show a 2.5% annualized rise. Yesterday’s Canadian current account data had some holes in it so risks are to the downside.
The US calendar is about housing and Fedspeak.
At 9:00 am the US monthly house price data from the FHFA and the Case-Shiller house price index are due.
This is likely the last chance the Fed will have to shape expectations ahead of the Dec 15 meeting. At this point, it’s looking like a placeholder as we watch omicron.