Markets are quiet heading into the NA session, lack-ing a catalyst in the absence of data releases and geopolitical develop-ments. Most of the G10 currencies are consolidating, with US yields ris-ing modestly while equity futures and commodities soften. Monday’s US releases include pending home sales, the preliminary Markit services and composite PMI’s, and the Dallas Fed activity index. There are no Fed speakers, though we highlight (below and in suggested readings) a WSJ article summarizing one of Dallas Fed President Fisher’s (voting hawk) recent speeches on policy normalization.
Read the full report: FX Daily