Richmond Fed and a handful of Fed speakers on the agenda

The US dollar has bounced back today and that’s led to a give-back of some of yesterday’s “sell America” trade.

I don’t see any game-changers on the economic calendar today as the main highlight is another economic sentiment survey; this time the Richmond Fed manufacturing survey. These have clearly deteriorated as we saw with Empire last week but the market wants to see some hard data showing what’s happening to the economy, particularly employment.

The other front to watch is Fedspeak with Jefferson (9 am ET), Harker (9:30 am ET), Kashkari (1:40 pm ET), Barkin (2:30 pm ET) and Kugler (6 pm ET). So far there has been a strong consensus that the Fed needs to wait on tariff policy and get inflation lower before cutting rates.

This article was written by Adam Button at www.forexlive.com.