S&P 500, Evergrande, Risk Trends, FOMC and Dollar Talking Points:
The week has opened to a distinct risk aversion with the S&P 500 putting in for a prominent trend reversal.
Risk aversion is more than just a single region or asset class sliding, and fear seems to be on the rise with plenty of fundamental fuel to keep the fire burning.
The power of anticipation may work to quell a meltdown as markets await the FOMC decision, but beware should fear persist despite the event risk.
GBP/AUD, GBP/NZD, GBP/CAD - TALKING POINTS:
Since making a new high, GBP/AUD has been struggling to hold ground of late.
GBP/NZD consolidates after a volatility spike on the move down in late August.
Positive sloping trend lines are still in place for GBP/CAD. Will that continue?