Earnings season in focus.

As the potential date of the FED's first rate cut keeps getting pushed back, plus the numbers of cuts keeps shrinking ( 3? 2? 1?). The question is, how long before the stock market starts to feel the pinch? I would say not whilst US growth remains consistent. Which brings 'earnings season' into focus, starting today with the Banks.

The last few earnings seasons have passed by uneventfully, with by and large, positive reports. If we get more of the same this time, I envision the S&P and the USD can continue to rise in unison.

In other news, the EUR remains under pressure following yesterday's ECB decision. And for me, is now on the potential to short list along with JPY and CHF.

On today's agenda (aside from earnings) is US consumer sentiment (which on occasion has been known to be market moving).

For me personally, yesterday's trade is still in play (which I will close before end of day to avoid weekend risk). But over the short to medium term (until something changes) I expect to be looking for long USD , AUD , NZD opportunities Vs JPY, CHF, EUR.

Feel free to email any questions: johnelfedforexblog@gmail.com