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Dollar's 12 Year Highs, S&P 500's Record Uncertain with Fed, Heavy Docket

Dollar's 12 Year Highs, S&P 500's Record Uncertain with Fed, Heavy Docket

2015-10-23 21:50:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

• A chain of ECB QE talk, strong earnings, China's rate cut and positive data put SPX back on pace for a record

• As close as we are to the technical boarders for US equities, the Dollar and others; trends are unpredictable

• The coming week's docket includes the FOMC, BoJ and RBNZ rate decisions; US and UK GDP; China's Plenum and more

What are the Traits of Successful Traders? See what our studies have found to be the most common pitfalls of retail FX traders.

We have seen the market rekindle major trends for the S&P 500 and the US Dollar this past week. However, we shouldn't expect momentum to simply carry us through the next, major technical barriers to fuel lasting trends. The drive established this past week was developed through an unlikely mix of fundamental surprises which wouldn't carry the market on their own. More importantly, the event risk moving forward is so dense and fundamentally-critical that it can dramatically change the trading landscape. While there are high profile events on every trading day of the coming week, Wednesday's FOMC decision represents the most comprehensive and imposing item. Depending on what the central bank does and says, we can see the market moving in diametrically opposite directions and under drastically different momentum. We discuss general trading conditions, the top event risk as well as the most at-risk (potential-laden) markets and currencies in this weekend Trading Video.

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