Equities and Yen Crosses Check Lower, But Big Moves Will Wait
• Risk aversion was seen across equities, Yen crosses and other more extreme sentiment-sensitive asset classes
• Anticipation of Wednesday's FOMC rate decision will stymie the Dollar's potential for breakouts - much less trend
The opening 24 hours of this trading week were light for the kind of fundamentals that can genuinely motivate the masses to reposition. The next 24 hours are much the same. We are in one of those situations where general markets are very sensitive to volatility, but it needs motivation to keep moving. January's painful stumble has slowed and now the anticipation is to what lies ahead. Starting Wednesday, we have the FOMC rate decision - one of the key uncertainties listed by multiple groups as a 'global concern'. While this is not likely an event where rates will change, the anticipation of a woozy market will shape conditions leading into the event. We discuss the trading conditions to expect and how it changes the viable opportunities in today's Trading Video.
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