A beating on Friday almost always spills into the next week, unless there’s some geopolitical fear that relieved. If sentiment is going to turn around this week, it will probably be within an hour of the stock market open. The dip-buyers have stepped in after almost every sign of trouble and it’s tough to bet against them.
S&P 500 futures are about 5 points below fair value and the Australian dollar is down 30 pips. Otherwise, the moves so far today are modest.
The calendar is light with only the Bank of Canada business outlook and comments from blabber-mouth Bullard.