Fed Talking Points:
• Fed Chairman Powell’s first day of testimony and the FOMC minutes seemed to reinforce the view that the Fed is preparing for rate cuts
• A lower yield naturally weighs the Dollar while risk trends should also recieve a speculative boost, but how strong are these drives
• Risk trends may seem buoyant through a measure like the S&P 500 but USDJPY and Gold indicate here are serious caveats in sentiment
See how retail traders are positioning in Gold, USDJPY and other Dollar-based majors using the DailyFX speculative positioning data on the sentiment page. (https://www.dailyfx.com/sentiment?ref-author=Kicklighter)
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Read More: USDJPY and Gold Show What Fed Support Can Truly Offer Market (Quick Take Video)