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There is potential for interest rate expectations to climb even further, but the Dollar is in the early stages of a recovery; so a more potent charge may be necessary – like ‘fear’
The global capital markets were showing an unusual amount of volatility before an extended holiday weekend (in the US), but the technical picture was less than convincing
Where the S&P 500 is leaning against the 2023 bullish trend channel support, the Dollar stands ready to cater to its safe haven status with staging like EURUSD’s balance on 1.0650
Standing at the verge of a well-trodden technical congestion, the Dow defaulted to the ‘path of least resistance’ pulling back into range – will volatility readings at extremes continue to settle?
The upcoming CPI release will likely trigger volatility across the market – including for oil – but this commodity tends to draw more on the macro factors of growth and interest rates