The new week begins with a light US economic calendar | Forexlive

The risk mood is positive with S&P 500 futures up 0.7% and USD/JPY up 75 pips. Banking worries have ebbed with US bank stocks up strongly to pace the gains.

Economic data isn’t a risk to that paradigm with the long today being the Dallas Fed manufacturing PMI at 10:30 am ET. There’s also a US 2-year auction with those trading up 16 bps to 3.94%.

Fedspeak is limited to the 5 pm ET talk by Jefferson on “implementation and transmission of monetary policy” in Washington. However we’ll hear from the ECB’s Elderson at 9:40 am ET, the ECB’s Schnable at 11 am ET and BOE Governor Bailey at 1 pm ET.

European clocks changed on the weekend so New York and London are back to the regular 5 hour gap.