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Trading Video: Dollar and S&P 500 Breaks Aren't the Only Game In Town

Trading Video: Dollar and S&P 500 Breaks Aren't the Only Game In Town

John Kicklighter, Chief Strategist

Talking Points:

• Status quo reigns with the Dollar holding fast at 11,750 and SPX lacking drive in its climb

• A drop in volatility is not leveraging 'risk appetite' so current market opportunities may surprise

• Ahead, US CPI is top event risk but is it capable breaking the US Dollar from its consolidation?

Want to test out all the premium tools and resources FXCM has to offer? We are holding an Open House

The S&P 500's climb is lacking luster even if it does scale new highs and the Dollar continues to work itself into a tighter space. This is a frustrating position for traders to be in - a market stuck in neutral but with trading potential so close at hand. In 'status quo', we are finding a deflating volatility backdrop that is not directly feeding the risk appetite theme we usually associate with such a move. That has undermined the rally for equities and Yen crosses. However, a diminished volatility landscape may offer opportunity elsewhere. In the meantime, should speculative appetite flare; risk aversion is the more loaded sentiment with Yen crosses well positioned for such an impact. Another avenue for opportunity is the eventual Dollar break. A CPI update is due, but its ability to instigate the necessary spark for the Greenback is dubious. We look at the opportunities in the FX market in today's Trading Video.

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