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Volatility for Euro, Hesitation for Dollar, Pound and Aussie Questions

Volatility for Euro, Hesitation for Dollar, Pound and Aussie Questions

John Kicklighter, Chief Strategist

Talking Points:

• The Dollar and Pound offers strong moves this past session, but both will struggle for follow through

• Ahead, top event risk is the ECB rate decision with strong expectations for an increase in stimulus

• More (important) Fed speak is scheduled ahead, but market reaction may be limited with NFPs ahead

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We are heading into the most action-packed 48 hours of the trading week. If we want to keep an eye on the epicenter of the storm, the EUR/USD will absorb the bulk of the critical releases. Top priority ahead is the ECB rate decision which is expected to deliver on further easing - though how far the market moves depends on how much the central bank has to offer against what investors already expect. The US docket is also stocked with Fed speeches that will cut even deeper than the Yellen remarks delivered this past session that seemed to signal to the market that they are taxiing for takeoff. However, with another definitive economic release in NFPs the day forward, it remains to be seen how committed traders are willing to get with their positions. Outside these headline items, sharp moves in the Pound and Aussie look to be stalling which may represent opportunities for a shift in market condition. We breakdown all of this in today's Trading Video.

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