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  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF https://t.co/MViWZiiPZ7
  • 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... https://t.co/4jmOPnzzK9
  • 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 https://t.co/UBWBxY2nFC
  • 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! https://t.co/jihKB44ELn
  • https://t.co/lbNvVbQq4n
  • 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 https://t.co/EgUtX6Pmvy
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:https://t.co/iEL5cbFnHs https://t.co/6kLkUFkFvU
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy https://t.co/PKWy7SE8Dt
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
  • The flash September US PMIs slowed more sharply than expected. That was a general trend across the developed world with most economies continuing to slow from their post-Pandemic peak recovery paces https://t.co/TgkUDlOyAe
Video: Weigh the Risks and Mortality of Stimulus after the ECB Upgrade

Video: Weigh the Risks and Mortality of Stimulus after the ECB Upgrade

John Kicklighter, Chief Strategist

Talking Points:

• The ECB announced a major stimulus program on the same order as the Fed, BoJ and BoE QE efforts

• As the latest round of unconventional policy hits, we should consider how far stimulus can carry markets

• With the week economic impact from stimulus financial impact severe, the risk-reward balance is dangerous

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

Another major central bank has adopted the open-ended QE model. Will this ECB's 1.1 trillion euro program buy the world another bout of economic expansion, financial stability and market climb? Or, are we already reaching the peak influence of monetary policy on the global economy and markets? There is no doubt that the ECB program is very large - a factor not lost on the Euro. However, exercising one of the last avenues of massive unorthodox policy leads market participants to reflect on the mortality of extraordinary efforts. We weigh the reasonable benefits and risks of stimulus in today's Strategy Video.

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

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