Three members of the Federal Reserve spoke on Tuesday, with only Jeffrey M. Lacker saying anything of note, advising there is a robust argument to raise interest rates in June. We can see from previous talks held by Federal Reserve members that they are split on pinpointing a month to agree on, with some wanting an earlier rate rise, with the majority seemingly now set for an end of year rise.
Consumer confidence data was out late on Monday, showing a much improved figure.
We can expect a busy day for US data releases. The ADP Non-Farm Employment Change release is expected early afternoon; this is widely used as an indicator leading up to the main Non-Farm Employment change figure on Friday; with a slight increase expected. The ISM Manufacturing Purchasing Managers’ Index is due, forecasting to show improved growth in the manufacturing sector. Along with the data releases we have Federal Reserve Members Williams and Lockhart speak, which are likely to include mention of interest rates.