Uneventful Open To The Trading Week - Forex News by FX Leaders

Uneventful Open To The Trading Week

Posted Monday, August 28, 2017 by
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.

Fed Meeting RoomThe FED Is Currently On Holiday- But That Is Going To Change In September

Economic Data

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.

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About the author

Shain Vernier // US Analyst
Shain Vernier has spent over 7 years in the market as a professional futures, options and forex trader. He holds a B.Sc. in Business Finance from the University of Montana. Shain's career includes stretches with several proprietary trading firms in addition to actively managing his own accounts. Before joining FX Leaders, he worked as a market analyst and financial writer.
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