A report on manufacturing in the New York region is making waves in early trading across the board Monday. Futures, bonds and the U.S. dollar are all up.

The Canadian dollar and euro are both trading lower.

Stocks in the U.S. and Canada, meanwhile, are expected to pick up on the positive trading trend in futures, following this morning’s release the Federal Reserve Bank of New York index of manufacturing activity. The index for June jumped to 26.80, the highest level on record, from 10.60 in May.

Today’s optimism stands in contrast to a steep decline on Wall Street on Friday, due to a slew of recent, disappointing economic news. Some analysts are saying that investors are grasping on to the New York index as the one bright spot. U.S. consumer price data is due out tomorrow, and as a broader index, it may be a better indicator of American economic activity.

In Europe, the markets are higher Monday. Paris’s CAC40 index rose 11.93 points, or 0.4%, to 3120.87. Meanwhile, in London at midday, the FTSE 100 index has gained 14.3 points, or 0.4%, to 4148.4. Frankfurt’s DAX 30 index is up 10.43 points, or 0.3%, to 3179.14.

In Asia, markets closed mixed with prices slumping in Tokyo due to profit-taking, but gaining in Hong Kong due to a rally in telecommunications shares.

Tokyo’s Nikkei fell 140.81, or 1.6%, to 8839.83. This was the exchange’s first time in four sessions as investors locked in gains. Meanwhile, in Hong Kong, the Hang Seng Index gained 6.64 to 9862.28.