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Video: Risk Currents are Turning and Monetary Policy is Turning It

Video: Risk Currents are Turning and Monetary Policy is Turning It

2014-11-18 23:00:00
John Kicklighter, Chief Strategist
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Talking Points:

• Market sentiment can be the most all-encompassing price driver if it is actively engaged

• A disparity in optimism has built over the months and was further exacerbated by October's tumble

• With the Fed ending its stimulus run, the era of central bank-supported confidence may be closing Want to develop a more in-depth knowledge on the market and strategies?

Check out the DailyFX Trading Guides we have produced on a range of topics.

The end of the Fed's QE3 program and the BoJ's surprise stimulus upgrade have proven stronger FX market catalysts these past weeks than the traditional 'risk' theme. However, there is a critical link between global investor sentiment and the total level of central bank support in the financial system. We have already seen doubts over the persistence of optimism and speculative build up in the disparity of different asset classes, a general trend higher in volatility measures and a lingering positioning uncertainty from the dramatic October correct that follows investors like a shadow. Will doubt turn into outright concern? Are monetary policy shifts going to be the enabler or catalyst for true risk aversion? We discuss this in today's Strategy video.

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