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  • The US Dollar has continued to fall following yesterday's #FOMC rate decision. secondary support zone now traded through, becomes possible short-term resistance 92.19-92.26 next zone of support already nearby, 91.82-91.93 $USD $DXY https://t.co/awsq1mQ6Vs https://t.co/qtDmQ1ZOXO
  • 🇩🇪 Inflation Rate MoM Prel (JUL) Actual: 0.9% Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇩🇪 Inflation Rate YoY Prel (JUL) Actual: 3.8% Expected: 3.3% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇩🇪 Inflation Rate MoM Prel (JUL) due at 12:00 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇩🇪 Inflation Rate YoY Prel (JUL) due at 12:00 GMT (15min) Expected: 3.3% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/Puri16DprK
  • 🇪🇸 Business Confidence (JUL) Actual: 1.9 Previous: -0.9 https://www.dailyfx.com/economic-calendar#2021-07-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.53%, while traders in France 40 are at opposite extremes with 71.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cpwf1asRZe
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for his central bank monthly webinar. Register here: https://t.co/xRVdZJNZom https://t.co/C45D6aPRIc
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 2.08% Gold: 0.86% Oil - US Crude: 0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gWiVFBgXuV
Forex: Dollar Versus S&P 500 Next Week with FOMC on Tap

Forex: Dollar Versus S&P 500 Next Week with FOMC on Tap

John Kicklighter, Chief Strategist

Talking Points:

• The FOMC rate decision Wednesday tops a long list of event risk this coming week

• A record close for the S&P 500 and weak positioning for the dollar suggest a risk focus

• Still absent from the markets is conviction, which may signal a dangerous and untapped fear bias

Sign up for John’s email distribution list, here.

US employment figures left an impression of building risk trends to support equities and weigh the dollar. Yet, where was the momentum that reflects that optimism? There is a fog of uncertainty for growth and financial stability mixed with dangerous exposure in the speculative ranks. Abandoning all concern could accelerate a dollar collapse (best suited for USDJPY and AUDUSD), but the sensitivity to deleveraging is a risk far too real(opportunities for GBPUSD, EURUSD and others). Another countdown has started to a possible decisive catalyst for financial market trends: the FOMC rate decision on Wednesday. We discuss the event risk and trade options for the coming week in the Weekend Trading Video.

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