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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
Follow through for USDJPY after its break may prove difficult as neither interest rate differentials nor the Greenback’s ‘risk aversion’ are currently supporting the bullish move
Market’s are awaiting release of the US CPI update for January given the data series’ ability to charge serious volatility with previous updates
Espite the higher rate trajectory expected for the US, the S&P 500 was steady, the VIX dropped sharply and the Dollar progressed little…now what?
With EURUSD and USDJPY tentatively stepping into trend reversals, the Dollar’s ‘safe haven’ role is the most potent catalyst to watch going forward