New York Open Briefing: Friday, October 16, 2026
The New York session opens with the US Dollar showing broad weakness, down 0.58% over the last 24 hours. The New Zealand Dollar leads currency strength, up 0.66%, while the Japanese Yen is the weakest, down 0.64%. This dynamic has seen NZDUSD gain 0.43%, AUDUSD up 0.39%, and GBPUSD higher by 0.40% since the reference point. USDCHF has declined 0.43%. The overall market tone is slightly risk-on, with the risk meter at +0.15.
Traders will monitor US economic data this morning. At 13:15 UTC, the Federal Reserve will release Industrial Production m/m, with a consensus of -0.1% following a previous 0%. Industrial Production y/y is also due, with a consensus of 1.2% against a previous 1.4%. Later in the session, at 17:00 UTC, the Baker Hughes US Oil Rig Count and Total Rig Count will be published.
Positioning data indicates retail books disagree by 22 points on NZDUSD and 20 points on AUDUSD. The crowd shift on NZDUSD moved 14 points toward short over the last 24 hours, while AUDJPY saw an 8 point shift toward short. At 19:30 UTC, the CFTC will release Non-Commercial Net Positions for BRL, JPY, GBP, and Gold.
The Fed Industrial Production figures at 13:15 UTC are the most immediate focus for the session.
| At a glance | |
|---|---|
| Biggest moves since the previous session | USDCHF -0.43%, NZDUSD +0.43%, GBPJPY +0.42% |
| Currency strength, 24h | NZD strongest at +0.66%, JPY weakest at -0.64% |
| Risk meter | +0.15 (mildly risk-on) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 13:15 UTC | USD | Fed Industrial Production m/m | Medium | -0.1% |
| 13:15 UTC | USD | Fed Industrial Production y/y | Medium | 1.2% |
| 17:00 UTC | USD | Baker Hughes US Oil Rig Count | Medium | – |
| 17:00 UTC | USD | Baker Hughes US Total Rig Count | Medium | – |
| 19:30 UTC | BRL | CFTC BRL Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | JPY | CFTC JPY Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | GBP | CFTC GBP Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | USD | CFTC Gold Non-Commercial Net Positions | Medium | – |
Times are UTC. This brief describes measured market state and the published schedule. It is not financial advice and nothing in it is a trade recommendation.