Analysts from Danske Bank point out that in the US, the flow of economic data releases begins again after the shutdown with trade data and the ISM non-manufacturing index. They will also keep an eye on FOMC speeches for hints on the future pace of the Federal Reserve’s balance sheet reduction.

Key Quotes: 

“In the US, the flow of economic data releases begins again after postponements due to the shutdown. Given the recession fears, we are looking forward to data again. That said, we do not have a complete overview of which data we will get. One important report is the trade data for November, which is due out on Wednesday. Besides official data, we also look forward to the ISM non-manufacturing index due out on Tuesday.”

“We also have a few FOMC speeches next week. While the Fed has said very explicitly it is on hold for now, we will monitor any insights the speeches might give on how the Fed will tweak the balance sheet reduction, which Powell talked about during his press conference.”