Hi Folks.

Here is this week's forecast.

MONDAY: Empire State Mfg. Index number at 8:30. FF Calendar has it as a red folder report, but I don't remember the last time this one moved the needle even a little. USD FX pairs will likely see a little bit of movement at 8:30 but the impact anywhere else later in the morning is highly doubtful. And for reasons I don't quite grasp, Cook from the Fed will be speaking in Chicago at 9:00 P.M. if anyone wants to stay up that late. But I would not recommend it.

TUESDAY: A lot of news today, but aside from Retail Sales at 8:30 and Fed Clown Barkin barkin' at 10:00 and Klugler at 1:00, none of it has much of a history of moving price around. Lately (meaning over the last year or so) Retail Sales hasn't done a lot either, but it has typically brought up the rear behind CPI and PPI, and usually 1-2 days after those reports hit. We saw both of those numbers last week, so this week it's the first and pretty much only big number of the week, so it may have an outsized impact on the markets. So watch or trade it at 8:30 and be ready for the Index market reaction at 9:30. The rest is just noise, although either or both Fed clowns could say something dramatic that creates some sort of price related fuss. But as noted previously, we never know when it will happen or what was being said, so capitalizing on it is tough.

WEDNESDAY: US Federal Holiday (Juneteenth) so the markets are closed. There is a real estate number on the schedule for 10:00 (NAHB Housing Market Index) which is a little surprising, but the number itself has never counted for much when the markets are open. It's doubtful they will do much to the markets which remain open today, like FX.

THURSDAY: Much like Tuesday, a lot of numbers are set to drop, but either individually or as a whole they have little impact. Philly Fed used to be a red folder report for some reason, but it has since dropped back to beige. I can't see any of these carrying over to the Indices in terms of impact. Crude oil is at 11 and it looks like Barkin will be barkin' again at 3:30, but nothing much we can do about that.

FRIDAY: Flash Manufacturing and Services PMI numbers both drop at 9:45, so the Indices trading should get some sort of a boost from these for at least a few minutes. At 10 we have Existing Home Sales and CB Leading Index m/m number. Neither of those are worth sticking around for. And thanks to the Juneteenth holiday, we get Natural Gas at 10:30 (normally a Thursday number). Again, a number that carries no impact except on NatGas charts.

Jeff