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According to analysts at TDS, in the US, the Philadelphia Fed Index will give a second look at regional business conditions after an upside surprise Empire Manufacturing last week and consensus looks for the Philly Fed to pull back to 29.0 in June from 34.4.

Key Quotes

“Meanwhile, the market expects initial jobless claims to edge higher to 220k for the week of June 16.”

“Lastly, the Fed’s Kashkari (non-voter) is scheduled to speak in Minneapolis at 9:00 ET.”

Canada: TD looks for wholesale sales to print at 0.3% m/m in April, in line with market estimates, as the tailwind from a surge in trade activity is offset by soft manufacturing sales. ADP will also release May payrolls at 8:30 ET.”