Economic calendar: Chicago Fed to draw attention

Summary:

• Chicago Fed manufacturing index the sole index of note today
• Some central bankers on the agenda too

1:30 pm BST - Chicago Fed manufacturing index: This reading is the sole of note during Monday's session. Let us remind that we were offered a solid rebound in Philadelphia and New York last week (for May), hence expectations in theory should be quite high. However, the consensus suggests a slight deterioration to -0.2 from -0.15 this month. Keep in mind that the two regional readings have not been affected by a trade war escalation, hence the bounce in May could not be the best predictor of an improvement in industrial production.

Central bankers’ speeches:

• 9:00 am BST - ECB’s Praet

• 12:05 pm BST - Riksbank’s Skingsley

• 2:30 pm BST - Harker

• 5:30 pm BST - BoE’s Broadbent

• 6:00 pm BST - Fed’s Clarida, Williams

The USDCAD is approaching the medium-term trend line after failing to break above 1.3520. Source: xStation5