Tough To Handicap What Market is Focused On!

A poll released yesterday by FOX NEWS must have been interesting reading for Trump supporters:

Will the impeachment process become an all out battle that drags to the Supreme Court, or will this be wrapped up by the year end, Trump carries on due to support in the U.S. Senate?

I must confess, this puts a lot of things into perspective regarding risk. Granted Greece has improved it’s economic situation but borrowing T-bills at negative rates?

U.S./China trade talks are what the markets are focused on at the moment. We have said that there is a chance for some kind of deal, but we don’t think either side is willing to budge on the big issues. The weakening global economy, lower earnings, lack of movement on fiscal stimulus, geopolitical risks are what traders and investors need to evaluate when allocating risk.  We know where we have the global central banks.

The USD is a key focus for many analysts. The EURUSD is testing a key level at 1.1030.  Talk of the USD strength by the U.S. administration may be a driver for a test higher in the weeks ahead.

For DAX traders, looks like we are in the middle of the range.  Might as well flip a coin…

Gold looks to be setting up for a move out of the $1480/$1520 range.  Waiting for equities and USD to go first perhaps?

Even the VIX index has settled into a range:  17.50/20.00  

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