S&P futures are up 1.14% and the overall mood is positive after Hurricane Irene blew through the East coast without catastrophe.
EUR/USD has been tracking lower after touching a high of 1.4549 early in Europe – that was the highest since June 3. We’re back down below 1.45 at the moment.
USD/CHF continues to be the big mover as the Swissie lags G10 currencies by a fair margin. Most of the USD gains have come since the European open and we’re now trading near session highs at 0.8160.
USD/CAD is skiing downhill as the Canadian dollar outperforms the commodity block. Last at 0.9772. The Aug. 4 low of 0.9742 is one we’re watching.
In a few minutes, we will get the monthly PCE report. Inflation is on the backburner so keep an eye on spending, which is expected up 0.5%. The consumer was a bright spot in the Q2 GDP revisions on Friday and more of the same will boost the risk trade.