Analysts at TD Securities point out that in the US, NY Fed President Williams speaks on "The Economic Outlook: The 'New Normal' Is Now" and is likely to repeat that no further rate hikes until inflation rises, which should get a dovish market reaction.
“If Williams again advocates "average inflation targeting" as part of the Fed's framework review, markets would react even more dovishly.”
“The shutdown-delayed December trade balance data will be released on Wednesday, with the market consensus expecting another widening of the trade gap to $57.9 billion.”
“The publication of the Federal Reserve's Beige Book will also garner attention as market participants look for further clues regarding the evolution of economic activity at the start of the year.”
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