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Euro Presses EURUSD Decline, Yen Crosses Drop Outpaces Equities

Euro Presses EURUSD Decline, Yen Crosses Drop Outpaces Equities

John Kicklighter, Chief Strategist

Talking Points:

EURUSD broke its 100-day SMA Friday with US inflation, but the trend extended Monday with weak Eurozone CPI

• Both the Euro and Kiwi Dollar gapped lower to start the week with monetary policy speculation gaining more traction

• On the 'risk' front, there is a divergence in risk assets bearings: equities, Yen crosses, EM, high-yield, etc

See how retail traders are positioning in the majors on DailyFX or bring the figures to your charts using the FXCM SSI snapshot.

It is a clash of the dominant fundamental themes for influence over the markets, and the result is greater volatility. Risk aversion is starting to yield some of its prominence to relative monetary policy. To start the week, pressure for the ECB to pursue further easing in monetary policy intensified after data showed the region slipped back into deflation. While additional QE or further negative rates is likely, the policy authority's ability to meet market expectations is not so clear. Meanwhile, US, Chinese and Australian monetary policy are gearing speculators' views with key data and events. In general, trading conditions are volatile and laced with scheduled and unscheduled event risk. These are not good conditions for the conservative position or range trader. We look at conditions and developments in today's Trading Video.

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