Why eyes are on today's US consumer confidence report ...Middle East

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There is some creeping worry about the economy after a series of drops in consumer and business sentiment. Those ran head-long into early optimism following the election. It may just be a temporary blip due to all the turmoil in Washington but we're not exactly past that theme.

That report is out at 10 am but first we will get some numbers on home prices for December at 9 am ET. That sector is certainly struggling and indications are worsening.

Then at 10 am ET with the consumer confidence report, we will also get the Richmond Fed. I was struck by how many comments there were about tariff uncertainty in the Dallas Fed survey yesterday.

On the Fed agenda we get Barr at 11:45 am and Barkin at 1 pm ET. I was struck by the hawkish tone of the ECB's Schnabel today.

This article was written by Adam Button at www.forexlive.com.

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