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Trading Video: Neither S&P 500 Rally Nor EURUSD Tumble Find Easy Momentum

Trading Video: Neither S&P 500 Rally Nor EURUSD Tumble Find Easy Momentum

2014-05-30 03:13:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

  • While the S&P 500 has put in for another record high, momentum and volume remain elusive
  • The risk theme holds tremendous potential but disparate performance of benchmarks shows threat
  • Interest rate expectations for USD, EUR, GBP and others will be stoked by heavy event risk next week

Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.

There are fewer and fewer mature trends in the financial market that have been able to avoid meaningful correction. The S&P 500 remains one of the most prominent. This pillar of risk appetite continues to forge new record highs after a five year run; but it is doing so on a steady drop in participation and without a convincing backdrop of momentum. Meanwhile, the FX market is showing greater levels of doubt and even outright concern through carry pairs, high-risk Emerging Market currencies and even the more stalwart crosses. As the market awaits the definitive word on sentiment, Forex traders will have to keep on their toes as monetary policy speculation picks up in the upcoming week on heavy-hitting event risk like Thursday's ECB decision and Friday's NFPs. We take a look at the markets and its opportunities in today's Trading Video.

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