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S&P 500 Climb and Dollar Slip Find Uneven Support from Central Banks

S&P 500 Climb and Dollar Slip Find Uneven Support from Central Banks

John Kicklighter, Chief Strategist

Talking Points:

• Three central banks updated their policy views this past session: Fed, ECB and BoE

• The FOMC minutes received a mixed response, the BOE is on pace for 1H 2016 hike, and the ECB weighed more QE

• Global instability fears will be put to the test of action with the upcoming G-20 gathering

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A strong close for US equities and further slip on the Dollar's part seems to reflect a dovish Fed view. However, the FOMC minutes that were delivered this past session didn't provide the kind of dovish traction these linked moves would suggest. Previous warnings of international headwinds were reiterated alongside the believe from the majority that a hike would still happen in 2015. The interpretation of a transitory and trivial market tumble however does raise eyebrows. Investor sentiment will be a critical theme carried into the final session and beyond. For the US, UK and Eurozone monetary policy bearings; the debate will continue while the drive cools without a definitive update. We look at the key themes and setups into the final session of the week into day's Trading Video.

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