For now, the markets have priced in a rate cut at the turn of the 3rd quarter… Stats through the 2nd half of the week include the all-important Philly FED manufacturing numbers on Thursday. German economic sentiment and manufacturing PMI numbers and the Eurozone consumer confidence figure will have the greatest impact. The Rest Monetary Policy: For the U.S Dollar: While the FED is expected to hold rates steady, will economic growth and inflation numbers be revised downwards again?