Trading Video: EURUSD and S&P 500 Runs Cool, Aussie Rallies
• A Euro tumble following the May ECB threat of stimulus has leveled out ahead of Thursday's rate decision
• Meanwhile, the sensitive risk-on benchmarks like the S&P 500 are losing traction on the multi-week run
• For volatility, the Australian, Canadian and New Zealand dollars are presenting short-term opportunities
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The FX and financial market's higher profile trends are running out of stem. The Euro and EURUSD tumble over hte past month has likely stalled ahead of the next ECB decision. On a separate track, the S&P 500 and other risk-based trade setups are starting to spin their wheels on mature runs with the May NFPs due in the near future. Both risk trends and rate forecast themes may be experiencing only a temporary hiatus from trend development, but we know the timing for the next likely swell in activity on both fronts. In the meantime, we have seen some remarkable activity upgrades from less popular majors - Aussie, Kiwi and Loonie dollars. We look at the big trends, upcoming event risk and unexpected trade potential 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.