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China Wins Reserve Status; Focus Now Turns to Dollar, Euro, Aussie

China Wins Reserve Status; Focus Now Turns to Dollar, Euro, Aussie

2015-12-01 03:45:00
John Kicklighter, Chief Strategist
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Talking Points:

• Top event risk to opening this intense trading week was news of the Chinese Yuan's admission into the IMF's SDR

• Ahead, Euro and Aussie event risk pick up and Dollar-centric listing will start a rapid acceleration into NFPs

• Keep the big picture in mind of global monetary policy eventually altering the view of global risk appetite

Find help with your trades and trading strategy from DailyFX analysts with DailyFX on Demand.

A return of liquidity this week finds traders are on their toes directly out of the gate. Through a dense docket Monday, top billing was the IMF's acceptance of the Chinese Yuan into the SDR basket. While the Chinese currency responded with a modest rally after the news, the true implications of this significant change will play out over years and decades. For those that pass this change over because it lacks the satisfying rush of volatility, considerable opportunities and risks may be overlooked. Ahead, the event risk becomes more immediate and intimate. Tuesday's listings will stir the Aussie, Euro and perhaps the Dollar and Pound. Really, this is just the start of the market picking up pace as the week wears on. Looking for the jolts of volatility related to data listings indulge short-term traders, but the big picture of relative monetary policy and risk trends' connection to external support are where the true potential lies. We look at the listings for the short-term view and the trend development of impending events in today's Trading 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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