Forex: How Far Will the Pound Run and When Will the S&P 500 Break?
• Sterling traders were vindicated in their hawkish rate forecasts, making for the most robust run
• Meanwhile, should we expect a necessary EURUSD and S&P 500 breakout carry the same kind of drive?
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The FX markets were moved to exceptional volatility this past session on a round of dense event risk, but will the swell last? Breakouts were forged on pound, Aussie dollar and Canadian dollar crosses - all on data that fed the market's most prevalent fundamental theme: monetary policy. How entrenched are the moves that followed these fundamental surprises and volatility sparks? Do the probable breakouts for benchmarks like EURUSD and S&P 500 hold as much potential as this past session's developments? What pairs offer the best technical and fundamental trading picture? We answer these questions in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.