What's on the economic calendar
The ECB left policy unchanged as expected and continued to say rates will remain at present levels through next summer but the market is eager to hear what Draghi has to say at the press conference, starting at the bottom of the hour.
At the same time, the August US CPI report is due. Yesterday's PPI numbers were on the soft side and weighed on the US dollar. A similar miss in CPI would have a much larger effect. The consensus is for a +0.3% m/m reading and a 2.8% y/y rise but watch the core numbers and real average hourly earnings, which fell 0.1% in July.
For Canada, the July new housing price index is forecast to rise 0.5% and is also due at the same time and so is the US initial jobless claims report.
As for fedspeak, Quarles might be on some schedules but his Senate appearance is postponed. Bostic speaks at 1700 GMT, which is the same time as a 30-year Treasury auction.
Finally, the US deficit is expected to grow in August when the monthly budget statement is out at 1800 GMT. The consensus is -$187.0B compared to $107.7B a year ago.
Trump has no public events on his schedule today.