Trading Video: Gauging the Drive to Dollar, Euro, Pound and Equity Trends
• Yet, technical advance didn't match up to the fundamental backdrop
• With UK and US inflation data absorbed; traders look ahead to a lull before PMI figures and Jackson Hole
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Both the S&P 500 and US Dollar marked impressive bullish moves this past session. Yet, neither seemed to be sourcing fundamentals that would support such a meaningful move. For equities, the return to complacency continues to eat away at risk premium - what little there is. Meanwhile, inflation data from the US did little to upgrade Fed rate forecasts. How long can these dubious trends last? With key levels in sight for the likes of the S&P 500 and USDJPY, that consideration takes on a greater urgency. Meanwhile, technical progress on EURUSD and GBPUSD keeps the door open. We discuss markets and particular movers in today's Trading Video.
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