US economic data coming up
The disaster in Texas continues to unfold as people in the Houston are wake up to more flooding and more rain in the forecast. Oil delivery ports and refineries are shut in and that’s hurting demand for oil with WTI crude down 40 cents to $47.47.
Economic data coming up includes July preliminary US wholesale inventories at the bottom of the hour, along with advance good trade balance.
The trade number can be a market mover and it’s expected to show a deficit of $64.5 billion in July. slightly larger than the $64.0 reading in June.
For more, see the economic calendar.