Trading Video: Equity Volatility Belies Support Hold, Greek Discussions Restart
• The S&P 500 and other equity benchmarks fought back again from key breaks, but traders still concerned
• Greece conversations once again turned to ultimatums as deadlines seem to solidify post Referendum
• Risk trades position for action, but perhaps the Dollar will revive rate discussions with FOMC minutes
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!
Two themes continue to dominate headlines and traders' minds: Greece and risk trends. Negotiations between Greek delegates and Eurozone creditors picked back up Tuesday and so too did the optimism of an eventual deal. However, the realities of risks and a rapidly diminishing timeline were far more apparent in speculators' view. Trading a preconceived outcome on such a critical uncertainty is very risky. Meanwhile, market participants face a similar risk should they take early positions on a systemic shift in speculative sentiment. The S&P 500 put in for another volatile bounce off its 200-day moving average which generates just as much concern as relief. Opportunities in Euro and Yen crosses (for risk) are appealing, but we shouldn't tune out steadier moves for the Dollar, Pound and Australian Dollar. We look at all of these themes and big movers in today's Trading Video.
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.