What’s coming up in North American trade
It’s TradeOn Summit day and Justin is delivering a live presentation at the moment. There isn’t anything on the calendar to interrupt him at the bottom of the hour, but it picks up a bit later.
At 1300 GMT, the Case-Shiller US 20-city house price index is due. It’s a lower-tier housing indicator and rarely moves the market, it’s also for May, so it’s a bit stale.
The two big releases of the day come at 1400 GMT. A big one is the July US consumer confidence report from The Conference Board, which is expected to dip to 95.0 from 98.1. The U Mich survey for July missed to the downside and a drop in this survey would underscore the risks of a consumer retrenchment.
The Richmond Fed is forecast at +5 from 0 in June. I think this release will be overshadowed by consumer confidence but any big miss would be notable.
The final event to watch is the US Treasury auction at 1700 GMT.