Talking Points:

• US equities scaled record highs Monday, but there was a notable lack of celebration

• Meanwhile, the strong monetary policy drive of EURUSD dried up and returned us to extreme quiet

• Don't expect either theme to hold as bigger drivers approach later in the week

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Last week EURUSD was forging a new trend while the S&P 500 meanders. These two benchmarks seem to have flipped roles this week. US equities broke to fresh record highs Monday while the EURUSD returned to a trading range of less than 30 pips. This shift has many wondering whether we have reverted to the dominant trends of the past month where 'risk' assets just continue with reckless abandon and core majors show indecision. That is unlikely - on both accounts. We discuss what lies ahead and the trading conditions with the market conditions, technicals and fundamentals on hand in today's Trading Video.

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