The FOMC Minutes for the January 31-February 1, 2017 meeting are due at 2pm NY time (1900GMT)
- The minutes will be the market focus in the US time
- There were no material changes at the meeting, but the Minutes will be pored over for clues & hints on the potential for change at upcoming meetings, perhaps as soon as the March meeting (on the 14th and 15th)
- At Fed Chair Janet Yellen's testimony last week to Congress she was vague: "Precisely when we take an action -March, May or June - I can't tell you." Which doesn't sound very urgent on a hike in March.
Prior to the minutes, there is a bit of data due and a Fed speaker...
At 7 AM NY time (1200GMT) MBA mortgage purchase applications, prior -3.7%
10 AM NY time (1500GMT)
Existing Home Sales for January
- expected 5.55mln, prior 5.49mln
- Trending slowly higher, but the number is expected to jump for January
At 1PM NY time (1800GMT)
Jerome Powell, a Fed Governor, will speak on his economic outlook and monetary policy at the Forecasters Club lunch
