Today we don’t have much on the agenda other than a couple of low tier data releases. The only notable release could be the NYFed Consumer Inflation Expectations survey which is generally released after the University of Michigan survey. This time we get this one first.

Higher inflation expectations coupled with weaker growth data weighed on risk assets recently as it constrains the Fed’s reaction to an economic slowdown. Watch out also for the usual tariffs headlines that could add to the noise as we head into the US CPI release on Wednesday.

That is going to be the main event of the week and the markets will position into the FOMC decision based on the inflation data.