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  • Going live shortly at the link below! Talking inflation, the Fed and what it all means for the $SPX and $NDX and $GLD https://t.co/E2HHhB5GWD
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  • Hey traders! The top story is US inflation figures. What other data are we banking on? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/5g8GYPuFks
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  • Hey traders! The Top story is US inflation figures. What other data are we banking on? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/ziropKKK2E
  • I don't envy the Fed officials today. These headline and core CPI figures are going to be distressing. Maintaining the 'inflation is transitory' view is the central bank equivalency of HODL or diamond hands https://t.co/jm99h6f89u
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Dollar Volumes Surge as Currency Collapses Post FOMC

Dollar Volumes Surge as Currency Collapses Post FOMC

John Kicklighter, Chief Strategist

Talking Points:

• The USD's eight-month bull trend leveraged a one-sided position that would be flushed Wednesday

• While the FOMC solidified the potential for a June hike, the Dollar was found too hawkish

EURUSD surged over 400 points on record volume, but is this a volatile correction or a trend change

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The FX market was roiled by the Fed. While much of the FOMC's policy decisions and sentiment would fall in line with what was expected, the speculative ranks found that the USDollar was over-levered heading into the event. Compared to Treasury Yields or Fed Fund futures, the Greenback seemed to be pricing in far more than a 'mid-2015' rate hike and a measured pace of tightening thereafter. Recognizing the disparity after the central bank clarified our path, Dollar longs looked to lighten the load. The subsequent squeeze in long interest led to an incredibly rapid decline for the benchmark currency that translated into moves like the EURUSD's 400 pip rally and the largest intraday volume (5 yards in less than four hours) on record. Should we be on the look out for another shock move in the Dollar? Is this retreat the start of a lasting trend? We discuss that in today's Trading Video.

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