Today is Fed day! The market hawks seem to be backing down today on weak retail sales numbers. The USD is tumbling this morning while safe havens such as Yen, gold, and bonds are soaring. The S&P 500 is down slightly. The weak USD may be tailwinds for the stock market. The thing that could start to cause the stock market bulls to think twice is if oil prices continue to fall hard and potentially get below $40. If you recall, outstanding market strategist Jeff Gundlach mentioned a couple years ago that if oil stays below $40 the global markets would have major problems.
The New Zealand dollar/U.S. dollar (NZD/USD) currency pair continues to trend higher. I believe this trend is not over, which I first wrote about earlier this year.