Uneventful Open To The Trading Week
Shain Vernier • 2 min read
Thus far, it has been a muted open to the trading week. The U.S. equities open has the DJIA and S&P 500 moderately positive. This week will mark the close of trading for August, traditionally one of the quietest months of the year. Summer vacation is just about over and these markets are poised to see greater participation.
Let’s take a look at a few factors likely to drive today’s U.S. session trade.
The FED Is Currently On Holiday- But That Is Going To Change In September
There are a few economic metrics out this morning:
Event Previous Projected Actual
Goods Trade Balance (July) -$64B -$64.5B -$65B
Wholesale Inventories (July) 0.6% 0.3% 0.4%
Debt is going to be a recurring theme as we move towards the September FOMC meeting. U.S. monetary policy and the FED’s balance sheet are going to be on everyone’s mind, likely driving the markets directionally. Between now and then, I look for some great trading opportunities in U.S. equities and the forex majors.
Wednesday will bring a release of U.S. GDP for quarter two. Industry projections have the number at 2.7%, up 0.1%. Any surprise in this number will give a jolt to markets. Stay tuned for breakdown and analysis of the GDP release and what it will mean to the aggregate U.S. economic outlook.
For ideas on how to trade the markets during times of substantial policy change, check out the trading signals here at FX leaders.