Monday Morning U.S. Session Brief: Let’s Get Started!
Shain Vernier • 2 min read
Monday mornings are always interesting to trade. With the weekend news cycle under our belts and a fresh slate of trading days ahead of us, Mondays can be a welcomed sight to an active trader.
Wall Street Is Open For Business!
This morning is a bit quiet on the U.S. economic news front, with the only release of note being the N.Y. Empire State Manufacturing Index for October. The release came in at 30.2, definitively above analyst projections of 20.7. This is a good sign for the U.S. economy and strength of the greenback overall.
It is important to realize that this number is furnished courtesy of the Federal Reserve Bank of New York, making it essentially a FED metric. After last week’s FOMC minutes release, these types of statistics will become more and more important as we near December’s meeting.
U.S. markets have received the data well, as have some of the majors:
DJIA +50 points
S&P 500 +2.25 points
EUR/USD -10 pips
USD/CAD +70 pips
USD/CHF +20 pips
Overview: Today’s early trade has favored the USD and U.S. indices. As we move deeper into the session, stay tuned to FX Leaders for analysis, signals, and recommendations on how to successfully engage these markets.