U.S. stock futures are set for a higher open on Monday and the euro strengthened against the U.S. dollar earlier on Monday but has come down from its highs following the outcome of France’s week-end parliamentary election which saw France President Emmanuel Macron’s pro-EU centrist party winning a majority in the French Parliament.
The euro is currently trading at 1.1179 against the dollar.
Economic data is light this week with U.S. existing May home sales coming into focus on Wednesday and May new home sales reported on Friday.
Fed watchers will pay close attention to a speech later today by New York Federal Reserve President and CEO William Dudley who could provide some more insight about the economy and Fed policy after the U.S. Central Bank raised interest rates last week with the federal funds for the 2nd time this year and median projections from Fed Committee members indicates that one more rate hike is likely to occur before the end of 2017.
Full Economic Calendar
Tuesday- Current Account Balance -Q1
Wednesday- Existing Home Sales (May), Crude Inventories, MBA Mortgage Purchase Index
Thursday- FHFA Housing Price Index (April), Initial and Continuing Claims, Natural Gas Inventories
Friday- New Home Sales (May)
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