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Awaiting Break from Stocks, Dollar Fed Drive, Yen Intervention

Awaiting Break from Stocks, Dollar Fed Drive, Yen Intervention

2016-04-15 03:01:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

  • Global equity indexes continued their climb with a few hitting key resistance, but can they break?
  • US CPI failed to jump start Fed speculation - for better or worse - but the Dollar is looking for drive
  • The term 'Yen intervention' is being used liberally, and FX traders are anxiously waiting to see if their is action

See the DailyFX Analysts' 2Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

Between key technical levels, lingering fundamental threats and a backdrop of unnerving volatility; the markets look like a tinder box waiting to go up. Many traders see opportunity in this mix, but the risk this environment commands should be respected. Nervous anticipation can quickly turn into violent market moves should a decisive catalyst come along. That said, many of the key sparks that can ignite these crucial themes are vague or don't offer convenient release times. The swell in equity indexes like the S&P 500 to key resistance is steeped in doubt and lacking for a clear, capable lever. The Dollar grows restless in its congestion, but the Fed's rate forecasts remain mixed between hawks and doves. A constant threat of intervention on behalf of the Yen has slowly lifted USDJPY and Yen crosses though a genuine move would likely snuff itself out quickly. Then there is oil with its influence over speculative sentiment (bank loans and EM countries), key currencies like the CAD and monetary policy (a key inflation component). Sunday's Doha meeting plays equal opportunity and anchor. We look at the risky state of the markets and trading in today's Trading Video.

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