US Dollar Builds Breakout Pressure as OECD Warns of Recession, Central Banks Unleash

Recession Talking Points:

• On the heels of the #Fed and ECB rate cuts, the BOJ and SNB held their extreme course, the BOE watched Brexit and Norges bank actually hiked
• Both the US Dollar and S&P 500 are facing persistent volatility against contracting ranges, seeding the environment for breakout
• Shifting the focus back to growth concerns, the #OECD downgraded its global growth forecast to 2.9 percent, dangerously close to stall speed

See how retail traders are positioning in the Dollar pairs, US indices, broader FX pairs, gold and oil intraday using the DailyFX-IG speculative positioning data on the sentiment page. (https://www.dailyfx.com/sentiment?ref-author=Kicklighter)

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