News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Video: Greece Headlines Move the Euro, S&P 500 Leaning Precariously

Video: Greece Headlines Move the Euro, S&P 500 Leaning Precariously

John Kicklighter, Chief Strategist

Talking Points:

• 'Risk trends' represent a broad fundamental theme, but the SPX leaning on channel support is key

• Once again official remarks on Greek negotiations bode poorly while new rumors roust the bulls

• The USD's Friday, NFP rally has lost traction as the week before the FOMC meet curbs speculative drive

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

Both major financial market themes - risk trends and monetary policy - are active to start the week. That said, their influence is shifting turns at the yoke. The Dollar's rally to end the week following the better-than-expected payrolls figure and wage increase subsided Monday as investors curb their speculative reach ahead of next Wednesday's official FOMC meeting. For the Euro, the rally we would see to open the week was not based on economic confidence - a Eurozone investor sentiment index slipped a second month - rather it was related to the Eurozone's 'risk' pressure point: Greece. After troubling remarks from both sides of the negotiation table over the weekend, a WSJ report suggested there was progress with an offer from creditors to extend Greece's bailout program to March 2016 - though this would need to come with reforms and be approved by a disinterested Greece. Meanwhile, broad risk is showing serious pressure with the S&P 500 leaning heavily on its remarkably consistent two-and-a-half year trend channel support. We discuss these themes and drivers in today's Trading Video.

EURUSD TECHS SAY BREAK CANDIDATE, FUNDAMENTALS SAY TREND ON HOLD

Sign up for John’s email distribution list, here.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES