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  • S&P 500, Nasdaq Rally After the Fed; 10 Year Yield to Two-Month-Highs
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? -
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy
Strategy Video: The Next Two Weeks are Critical for USD Trend and Pace

Strategy Video: The Next Two Weeks are Critical for USD Trend and Pace

John Kicklighter, Chief Strategist

Talking Points:

• The Dollar is the best performing major and on pace for a record breaking 7-month bull run

• Monetary policy - the primary driver thus far - will be put to the test between Fed and ECB decisions

• Risk is where most of the potential rests, but will data or a critical theme prove the ultimate spark?

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 Dollar is pacing an FX market that is growing increasingly volatile and unpredictable. Well on pace for its seventh consecutive monthly advance (what could be a record for the benchmark), important trials stand before the currency. In the next two weeks, the docket fills out with critical event risk for the Greenback and broader financial system. Between ECB and Fed rate decisions, speculation supporting a future US rate advantage will be put to the test. Yet, far greater potential for the Dollar resides in deteriorating risk backdrop, which can be set off by high-profile data like US GDP or even monetary policy itself. We look more closely at what lies ahead for the Dollar in the second half of January in the weekend Strategy Video.

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