The US Dollar has been really strong for almost a full year now, but over the past couple of weeks, buyers have been spinning their wheels at resistance.
The S&P 500 and Nasdaq 100 will be sensitive to the April US CPI report. Any sign that inflation has peaked and is easing quickly will be bullish, but a negative surprise could spark a selloff
The Fed dropped the hammer yesterday but the market reaction was equity strength and USD weakness. Both themes that are already being faded. Tomorrow brings NFP.
The US Dollar set a fresh 19-year high and stocks took another look over the ledge this week – but next week brings the Fed and all eyes are on the FOMC.
The Nasdaq was a falling knife yesterday and sliced through a major spot of chart support. The index is bouncing this morning but have bears already had their day?