Price action will be the story
It’s a lively day in FX and markets generally but there isn’t much fundamental backing for whatever is driving it. That won’t change much with today’s round of data.
We get initial jobless claims at the bottom of the hour, and they’re expected to dip to 350K from 364K. The name of the game will be breaking out the states that have cut off benefits from those that will continue to Sept 6 to see if there’s anything we can glean about the broader reopening.
The other event to watch is the weekly US oil data, which was delayed by a day because of Monday’s US holiday. The API numbers showed another big draw. Oil is down 1.0% but is hanging in there better than some other risk assets.