The pound continues to roll into the final hours of what’s been a fantastic July for the currency. More broadly, the US dollar is making a bit of a comeback after some weakness late yesterday and into Asia.
The consumer is in focus at the bottom of the hour with the PCE report. Inflation isn’t a big market focus at the moment so the personal income/spending components of the report are going to get top billing. Look for a 5.2% rise in June spending.
At the same time, we get May monthly Canadian GDP. The economy began to reopen in the month and it’s expected up 3.5% compared to the record -11.5% in April.
Later we get final revisions to the U Mich sentiment survey. Other than that it’s going to be all about the ebb and flow of month end.