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
• A strong slide from oil was encouraged by supply-side fundamentals and spilled over the the Canadian Dollar
• Anticipation of Wednesday's FOMC rate decision will stymie the Dollar's potential for breakouts - much less trend
See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.
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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.