Trading Video: AUDUSD Breaks, GBPUSD and S&P 500 Extend Bull Trends
• The 'risk-appetite' and anti-dollar themes extended their reach this past session
• Liquidity and a focus on Thursday's NFPs will seriously change the market's landscape
See volume behind the majors during the NFPs and ECB rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.
Two strong market themes have extended their run this past session: dollar selling and the bid underneath high profile 'risk' benchmarks. These drivers would see the USDollar Index slammed into the floor of a 16-month range with a remarkable break from AUDUSD, and the S&P 500 climb to a record high. Yet, as convincing as the technical moves are, the fundamental fuel to sustain the trends is spotty. More importantly, market conditions in the liquidity and volatility backdrop threaten to turn the tap off - regardless of theme and direction. With such alluring technical developments and major event risk not far ahead, we look at the market's general pace and individual opportunities 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.