Another day, another US rate rise advocate
- Fed President Lockhart joins the campaign #FreeTheFed, advocating rate hikes this year and trying (not perhaps terribly convincingly) to justify his vote for unchanged policy last week.
- There is little data today - but there is not that much new information to be expected between now and the December FOMC (other than the entirely predictable increase in headline CPI inflation, on oil base effects).
- Japan is off on holiday, again, and Asia seems likely to be relatively quiet. Surprises from China are unlikely so close to President Xi's visit to the US. The reassessment of the Fed prospects is leading to a slow grind higher in the dollar.
- The Euro area has flash consumer confidence data. Like all confidence numbers this is prone to exhibit more volatility than the fundamentals would justify. The extent to which media reporting of financial market moves impacts sentiment is a mild point of interest.