Trading Video: Dollar and SPX Rallies Break Records, Greece Standoff Troubles Euro
• The ICE Dollar Index closed out a 9-month rally and extended its record bullish drive
• Far more impressive in scale, the S&P 500 closed out its 9th consecutive quarterly rally
• Greece is quickly returning to the forefront as a liquidity pinch threatens to spur global fears
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With the close of the month and quarter, we are keeping tabs on some of the most incredible trends seen on record. From the Dollar (ICE Index), we have secured a ninth consecutive month of rally. That is the longest run on record...plus two months. The drive this currency has won is well-founded fundamentally, but it certainly is aging. In comparison, the S&P 500's 1Q advance marks a ninth 'quarter' of climb. This is the fourth most persistent bull run in the index's storied history, but its fundamental drive is far more dubious and the six-year trend looks beyond mature. Both will reverse, but that does not mean the turn imminent. Meanwhile, the docket fills out with another round of event risk to prod underlying fundamental trends. And, once again, the Euro's troubles shine above the rest. We look at the major price and fundamental trends 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.