New York Open Briefing: Friday, October 23, 2026

The New York session opens with European equity markets showing declines. The DE40 is down 0.72%, the UK100 is down 0.53%, and US equity futures are also lower, with US30 down 0.62%, USTEC down 0.35%, and US500 down 0.33%. This reflects a cautious tone as the session begins. In currency markets, the USDCHF pair has moved +0.39% higher, with the Swiss Franc showing the most weakness over the last 24 hours at -0.35%. The overall risk meter stands at +0.07, indicating a slight risk-on sentiment despite the equity moves.

The economic calendar for the New York session is active, with several key USD data releases scheduled. At 13:45 UTC, traders will observe the Flash Manufacturing PMI, with a consensus of 55.4 following a previous 57.0, and the Flash Services PMI, which has a consensus of 57.9 after a previous 58.7. Shortly after, at 14:00 UTC, a series of Michigan data points are due, including Michigan 5-Year Inflation Expectations at a consensus of 3.5%, and Michigan Inflation Expectations at a consensus of 4.7%.

Also at 14:00 UTC, the Revised UoM Consumer Sentiment is expected at 46.3, matching its previous figure, alongside Michigan Consumer Expectations at 47.3. In positioning shifts, retail books show a 20 point disagreement on both EURJPY and AUDUSD. The crowd on GBPUSD has shifted 8pt toward short in the last 24 hours, and the book on US30 has moved 9pt toward short over the same period.

Traders will closely monitor the Flash Manufacturing and Services PMI releases for immediate market direction.

Scheduled this session (High and Medium impact)

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.