The US dollar is taking a bit out of the market today, leading the G10 pack.
Yesterday’s dollar under-performance was a bit curious but may have been the result of big flows in USD/JPY or international bond sales. In any case, the big buck is back in the saddle today. The economic calendar won’t do much to change the story because pending home sales at 1400 GMT are the lone data point. After the soft new home sales numbers last week this data point might get some extra attention but it’s a lagging housing indicator.
That leaves us 30 minutes to get ready for Carney’s speech.