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  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your $AUD market update from @DanielGMoss here:
  • The US Dollar has proved buoyant thus far in 2021. Will it continue now that administrations have changed? Depends on fiscal stimulus. Get your market update from @CVecchioFX here:
  • President Biden acting quickly. Has already signed a run of executive orders, one of which is brining the United States back into the Paris Agreement. I think a number of industries expected this, including the auto-manufacturers
  • President Biden signs new executive orders revoking the Keystone XL Oil Pipeline permit, US will rejoin Paris Climate Agreement - BBG
  • We had the BOC and Brazilian Central Bank rate decisions today. Coming up over the next 24 hours, we have the BOJ, Norges, South African Reserve Bank, Turkish Central Bank and ECB rate decisions. On balance, unlikely a serious dictate for global risk trends
  • Asian futures point higher as US equities close at record highs - BBG
  • 🇧🇷 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2%
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.80% 🇳🇿NZD: 0.73% 🇦🇺AUD: 0.66% 🇬🇧GBP: 0.20% 🇨🇭CHF: -0.12% 🇪🇺EUR: -0.19% View the performance of all markets via
  • Poll: Which direction do you think $EURUSD will break when it does finally clear this 1.2150-2050 range?
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 2% Expected: 2% Previous: 2%
Ranking Dollar and Yen Options Against Yellen and Risk Scenarios

Ranking Dollar and Yen Options Against Yellen and Risk Scenarios

John Kicklighter, Chief Strategist

Talking Points:

  • The intense pressure of a 'risk' move eased with this week's equity rally, but there is still short-term potential
  • Yen crosses are my preference for a sentiment shift with GBP/JPY and AUD/JPY options for contrasting outcomes
  • Fed Chairwoman Yellen is due to speak Friday but will it motivate a short-term Dollar with key setups forming?

Having trouble trading in the FX markets? This may be why. See the standings in the Monthly FXCM Mini trading contest.

With the cooling of the Dollar's multi-week rally and the bounce from Global equities have pushed back the threat/promise of heavy moves. And yet, there are still plenty of tactical opportunities to be found in the FX market.

For the USDollar, the transition from impressive trend to exceptionally tight range this week set the stage for an asymmetrical progress. A bullish break would have forged bullish ambitions at critical levels for pairs like the EUR/USD. The slip we've seen instead shifts the focus to the short-term; but EUR/USD, GBP/USD and AUD/USD offer appealing options in that context.

For sentiment currents, the rebound among US equity indexes stalled leaving many 'risk-oriented' assets with noteworthy, short-term technical potential. Amongst the Yen crosses, I'm particularly partial to GBP/JPY for any bearish developments and AUD/JPY for a bullish pressure. Besides these two key themes, we weigh in on the Brexit countdown's influence on the Pound as well as gold and oil conviction in today's Trading Video.

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