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. See our updated Privacy Policy here.



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
Wall Street
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
More View more
Real Time News
  • Airline stocks retracing losses, some already in positive territory, despite the large sell-off in the market. News that the US will overhaul its COVID-19 travel rules and lift some restrictions are good news for the airline industry $JETS $UAL $AAL $ALK
  • The S&P 500 have taken a clear dive to start the week and fear of full risk aversion is gaining traction. DailyFX's @JohnKicklighter discusses what to expect in the markets this week!
  • $USD still pulling back from resistance. 93.43 was the Q1 swing high, still playing a role in $DXY support potential around prior res, ~93.20
  • despite the theatrics elsewhere, $Gold has held last week's low through this week's open, at least so far even getting a bump higher. resistance potential 1769-1775 $GC $GLD
  • While there is no doubt a risk aversion wave at play now, it can still burn itself out with years of complacency and the expectations of Fed on Wed (anticipation can take the wind out of sails). But if/when the Dollar takes off pre-FOMC, that would be.
  • Bitcoin probing Fibo support zone ~42,588 #Bitcoin $BTCUSD
  • EUR/USD extends the series of lower highs and lows from the previous week as European Central Bank (ECB) officials defend the dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:
  • There are reasonable disputes over where technical boundaries exist from people with different views, charts, time frames, etc. I think this $SPX gap down and drive below the 50-day SMA clearly qualifies as a break
  • Some people like a quiet market that edges higher consistently day in and day out. I am not one of those people. I like volatility
  • 🇺🇸 NAHB Housing Market Index (SEP) Actual: 76 Expected: 74 Previous: 75
S&P 500 Closes Out an Unprecedented Charge, EUR/USD Faces FOMC

S&P 500 Closes Out an Unprecedented Charge, EUR/USD Faces FOMC

John Kicklighter, Chief Strategist

Talking Points:

  • The S&P 500 pushed to record highs on the longest bull run in 2.5 years and leveraged by an exceptional rally
  • An extension of stimulus from the ECB pushed EUR/USD to 1.0500, now traders await the Fed to decide parity
  • Other key event risk in the week ahead includes: the BoE, SNB and BoM rate decisions; UK and Aussie employment; more

Sign up for the FOMC rate decision event and see what other live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

The Italian Referendum and ECB rate decision this past week leveraged remarkable volatility for the Euro and EUR/USD this past week, but my vote for remarkable performance goes to US equities. And, that is where my greatest concern will rest for the week ahead as we absorb high-level event risk. Looking at the performance of various return-focused assets this past week - equities, emerging markets, high-yield - we see that there was a clear swell in risk appetite. However, no corner of the speculative system leveraged as remarkable a performance as the S&P 500. The favored equity index advanced to a record high this past week, but it was the fashion in which that extension took place that was so remarkable. The six-day rally through Friday matches the most consistent run since June 2014. What's more, the jolt on Wednesday was one of the strongest for an outperforming market with no event risk in recent history.

Speculative appetite has its sources, but no aspect to this performance is as structurally important as complacency. And, that makes this market particularly unstable. There was little to lend investors more confidence or appetite through this period. Yields have lifted globally, but that advance is from fading confidence in central banks and concern over global trade while the actual historical returns are far from offering sound return. To place our confidence in optimism through the end of the year on seasonality or a reinterpretation of the Fed's policy normalization is highly suspect. Lurid and rampant speculative reach therefore remains the most important dynamic ahead.

In the meantime, the docket ahead is loaded with high profile event risk which will tap charge other fundamental themes. The Fed decision will carry through the monetary policy interest from last week's ECB stimulus move. This is one of those events where we have to look beyond the rudimentary interpretation of the outcome. A rate hike - the first since last December - is fully priced in according to Fed Funds futures. Unless the central bank surprises with no change, the real interest for this event will come through the elements used to speculate the future pace of normalization. The outlook for 2017 is still significantly discounted for tightening and can offer the Dollar more fundamental leverage. The FOMC decision isn't the only rate decision this week. We also have the Bank of England (BoE), Swiss National Bank (SNB), Bank of Mexico and Norges Bank. Furthermore, inflation data, employment numbers and PMIs are generously distributed through the period. We discuss the remarkable sentiment lean and heavy docket for the week ahead in this weekend Trading Video.

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

S&P 500 Closes Out an Unprecedented Charge, EUR/USD Faces FOMC

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