Anxiety is still high for currency and capital market traders, but fundamental sparks have struggled to spur more than short-lived volatility. This past session was marked by new warnings about Greece's bailout bill, an earnings miss by one of the stock market's most important players, a much better-than-expected UK GDP figure and RBNZ Governor Wheeler taking an abrupt turn on policy lean. A spike in activity followed each of these developments, but each time the market settled before a trend commitment was made. What is the market waiting for? The S&P 500 has made its critical break; yet EURUSD, GBPUSD, AUDUSD and others have yet to concede to the shift in sentiment. Traders are waiting for something - and that something may be the upcoming US 3Q GDP figure.
New to FX? Watch this Video
Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.
