Trading Video: Dollar and Equities Extend Gains, Still Lack Momentum
• Equities gains globally Monday and the S&P 500 hit the closely watched 2,000-mark intraday
• Progress is still being made without the structure we normally expect in solid and lasting trends
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A gap on the open for the USDollar and the S&P 500's tag of 2,000 made for good headlines to start the week, but it does little to reassure fortify conviction in a sustained trend. For speculative appetites, the low-hanging fruit in risk premium has been harvested leaving equities and yen crosses once again face trends that are coming up short on fresh blood. From USDJPY, the recent performance is especially circumspect as as the dollar's own run lacks for a fundamental draft in interest rate expectations. What do we do when trends face serious doubt and headwind yet keep progressing? We discuss that 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.