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Equity Climb Stretched, Dollar Dive Accelerates

Equity Climb Stretched, Dollar Dive Accelerates

John Kicklighter, Chief Strategist

Talking Points:

  • The S&P 500 is working its way higher, but the technical reach puts greater strain on fundamentals and speculation
  • A post-FOMC, two day drop from USDollar is the sharpest since July 2013
  • Emerging Market currencies are threatening breakouts while Oil prices extend their recovery sans output commitment

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

The USDJPY is once again a good measure for establishing which major fundamental themes are carrying the most weight in the markets. On the one hand, the Yen cross is a distinct follower of risk sentiment through its carry trade and currency war elements. And yet, an impressive bearish technical break seems to contradict the lift of other crosses and the steady advance of the S&P 500. That reflects the strength of the Dollar's collapse this week. In fact, the post-FOMC drop from the USDollar marks the biggest two-day tumble since July 12, 2013. Will the Dollar continue to burn as such a remarkable pace and can speculative appetite continue to build despite the questionable fundamental backdrop? Meanwhile, emerging market currencies have seen impressive volatility amid geopolitical theme, risk trends and the upswing in commodity prices. More than a few pairs are positioning for critical technical calls. We take stock of the stronger trends in the FX market in today's Trading Video.

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