News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • 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 market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
S&P 500 and Dollar Rally Leverage Anxiety, Not Confidence

S&P 500 and Dollar Rally Leverage Anxiety, Not Confidence

John Kicklighter, Chief Strategist

Talking Points:

  • Dollar posted its best week in 12 months, S&P 500 2 years and Dow Composite in nearly 4 years
  • Global risk appetite remains a critical pillar for the markets and it shows serious strain
  • Top concerns for the week ahead are sentiment trends, Chinese Yuan, Peso, Fed timing and Brexit

See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

Given the United States' position as the world's largest economy and financial center, the performance of its markets frequently acts as a bellwether for global health. Yet, does that relationship hold in the midst of growing protectionism? We will see this critical link put to the test going forward as the major markets diverge. This past week, US markets clearly outperformed. The Dollar (ICE Index) posted its strongest rally in 12 months. Meanwhile, the S&P 500 went on to the strongest run in two years while the Dow Composite paced a near four-year climb. That presents a significant contrast to global shares, emerging market assets and recently en vogue high-yield/high-risk markets.

The charge in this disparate performance seems largely the work of the US Presidential election. President-elect Donald Trump ran on a platform of fiscal stimulus and renegotiated or cancelled trade deals among other unorthodox policy. The balance to local benefit to global detriment is unlikely to spell net 'risk appetite'. Treasuries offer additional insight into that fundamental imbalance. The traditional safe haven drops in a risk-seeking and growth environment; which makes for the biggest TLT (Treasury ETF) drop on record so remarkable. Yet, this market's aligned performance to other 'risk-on' assets speaks more to general risk aversion and the undermining of confidence in monetary policy than a permanent shift in sentiment.

In the week ahead, it is increasingly important to keep an overview of the big-picture fundamental themes amid the volatility and building divergence. Sentiment is seeing more pressure than relief. Should US assets stall and falter, it will lift the fog of questionable optimism. The deeper concerns though rest with Emerging Markets - especially Mexico and China. The former is seen as the most sensitive counterpart and the latter presents the greatest risk to global currents. Aside from that, monetary policy will be on display. The market's 84 percent probability of a Fed hike will be put to the test by inflation data, Fed speak, Chairwoman Yellen testimony - not to mention volatility. Meanwhile, the BoJ and SNB are finding their control continuously slipping away under active markets. Brexit, Aussie jobs and Euro-area stability are just a few more themes to find activity and trades from. We discuss all of these key themes and imminent drives in this weekend Trading Video.

To receive John’s analysis directly via email, please SIGN UP HERE

S&P 500 and Dollar Rally Leverage Anxiety, Not Confidence

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.