Trading Video: Are These True Dollar, Equity, Euro Reversals?
• Following the combo of the weak US GDP and status quo FOMC, the Dollar once again tempered its pullback
• Risk trends are starting to ease more broadly with sharp moves like Emerging Markets and slips like SPX
• Where safety seems to be a rising concern, the troubled Euro seems to be finding a strong bid
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There are plenty of provocative moves developing in the FX and capital markets. Yet, many of these fledgling efforts are troubled by questionable circumstances for conviction. Coming off an exceptionally weak 1Q GDP reading with a status quo FOMC decision, the Dollar was once again drifting against the current of its otherwise impressive bear shift. Risk trends have themselves raised their skeptical eye once again. Following the sharp drop from European and Asian shares the previous day, the Dow and S&P 500 both dropped this past session. Then there is the Euro. One of the most troubled major currencies has been on a campaign for recovery though its backdrop is far more troubled than simple 'Greece relief' can compensate for. As we review these burgeoning trends, we also review stymies for the Pound and Aussie Dollar 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.