London holiday slows the market activity
This week is a London bank holiday. Next Monday is a US bank holiday. Just a little more summer to deal with traders. Today there is some "minor" US data released with the Chicago PMI, Milwaukee and Dallas Fed manufacturing indices. Chicago will probably be the most important (at 9:45 AM, estimate 54.5 vs 54.7 last). The index has a 12 month high of 64.5 (Oct 2014) and low of 45.8 (in Feb 2015). In Europe the Weekend Jackson Hole comments seem to suggest the plan to raise rates remains intact for 2015. Will they raise it in September still remains the big question.