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Trading Video: Dollar, Yen, Aussie and S&P 500 Building Break Pressure

Trading Video: Dollar, Yen, Aussie and S&P 500 Building Break Pressure

2015-02-03 00:06:00
John Kicklighter, Chief Strategist
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Talking Points:

• Numerous technical patterns are showing break potential - some leaning on support, others on resistance

• Fundamentals will be a key to forging the technical break and critical to carrying trend

• Greece, an RBA rate decision, debate over the Fed's rate timing and risk trends are top themes

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There are a range of FX and capital benchmarks whose technical bearings look primed for meaningful breaks and ready to revive trend-based momentum. However, the technical setups alone are unlikely to generate the necessary heat to force a meaningful drive - much less keep up a heady steam of momentum. That fuel will fall to fundamentals. For themes, monetary policy is still a key driver. The record breaking seven-month rally for USDollar has found little extension after last week's GDP and FOMC decision, but NFPs and preferred inflation figures this week will look to shake the currency up. Greece is quickly overtaking ECB stimulus talk with the new government adamant in its anti-austerity position. Meanwhile, the RBA decision provides short-term scheduled event risk and speculative appetites are keeping the pressure on Yen crosses. We discuss these catalysts and trends in today's Trading Video.

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