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Trading Video: Will US Stock Indexes and the Dollar Finally Break This Week?

Trading Video: Will US Stock Indexes and the Dollar Finally Break This Week?

John Kicklighter, Chief Strategist

Talking Points:

• The Dow marked an important technical break this past week, but US equities are slow to follow 'risk trends'

NFPs wouldn't resolve the data-dependent view for interest rate expectations, leaving USDollar range bound

• Summer trading conditions are conspiring to keep markets anchored and we should adapt our trading approach

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At one point this past week, both the US Dollar and the benchmark Dow equity index were forging critical technical breaks. However, the follow through that these tentative moves have established leaves us with as much doubt as conviction. On the risk side, the potential is tremendous - but potential does not translate to imminent. Summer trading conditions seem to be play between low volumes and small ranges. Key global financial themes for potential catalysts have disappeared and the next round of known sparks is still a ways off. For the more consistently active FX market, the docket is filled with noteworthy releases; but their capacity for volatility and trend development are questonable. Data to leverage the US Dollar seems far less capable than key Euro-area GDP figures and Chinese economic event risk for the Euro and Aussie Dollar respectively. We discuss what lies ahead and the proper strategy calibrations in this weekend Trading Video.

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