American dollar is the currency determining the success of our trading. It is dominating in the markets and due to intermarket correlations it influences not only other currencies, but major stocks and commodities as well. When USD is shaky and unstable just like these days, it seems that trading becomes next to impossible. Trade war is not letting USD off easily too. We can see that the closer we get to some kind of talks, the thicker the clouds above our heads are getting. Right now we are under the impression that the talks are either never going to come or they will be as stretched out and made unsuccessful by Americans as possible.
Of course, all of this only adds to unstable performance of USD. Just like two major reports - ADP Non-Farm Employment Change and Crude Oil Inventories which are coming out today – are going to add to the turbulence of the couple later today. We saw what poor economic data did to euro, imagine what it can do to USD and subsequently to the whole of the markets. It is safe to say that turbulence is expected to get even worse today.
With USD being 50 percent of participants of almost all of the major couples, we desperately need trading signals to calm us down and show us the right way.