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Dollar Will Have its Mettle Tested by GDP, USDJPY Eyeing Equities

Dollar Will Have its Mettle Tested by GDP, USDJPY Eyeing Equities

John Kicklighter, Chief Strategist

Talking Points:

• Yet another round of Fed officials reiterated their belief that a 2015 hike was probable

• The Dollar has gained as data and rhetoric builds hike speculation, but Friday's GDP carries decisiveness

Euro gains flout discouraging Greek headlines and Yen crosses can be torn down by an equity reversal

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The Dollar's climb continued this past session as Fed members Williams and Bullard echoed the belief that a 2015 FOMC hike is probable. That contradicts what the market is projecting in Fed Fund futures and thereby presents speculative opportunity in fundamental disparity. We will see a key indicator attempt to reconcile the interest rate debate cross the wires today: the US GDP release. Though it is a revision versus a first read, the debate surrounding the economy's resilience to cold international winds will link easily to the rate discussion. Meanwhile, the Euro is proving a buoyant force in the face of increasingly troubling headlines for Greece while USDJPY hits 13 year highs despite the second biggest drop from China's benchmark equity index in nearly 6 years. We gauge where these themes will carry the market in today's Trading Video.

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