The markets are open for the Columbus Day holiday, but stocks and exchange traded funds (ETFs) saw light trading volume ahead of the earnings-season kickoff later this week.

Equity market gains overnight across Asia are pushing prices higher in Europe as investors look to key economic updates from America, including quantitative easing from the Federal Reserve. SPDR DJ Euro Stoxx 50 (NYSEArca: FEZ) is down slightly so far today. [An ETF Play for a Struggling Europe.]

The dollar is rising against the euro and the yen in early morning trading after consistently falling in recent weeks against both currencies. PowerShares DB U.S. Dollar Bullish Fund ETF (NYSEArca: UUP) or go short the Euro CurrencyShares Euro Trust ETF (NYSEArca: FXE) which are both down in early trading. [Currency ETFs Get Ready to Rumble.]

US Dollar ETF, Currency ETFs

Euro ETF, Currency ETFs

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.

Gregory A. Clay contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.