USDJPY, USDCHF, EURUSD didn't benefit much from the USD weakness last week, so the question is: If USD weakness persists, can the commodity currencies continue to absorb all the USD selling or will EURUSD be forced higher? Also, if EURUSD goes up (and USDJPY goes down), that means stocks will go down. Will stocks go down with rising commodities?
So then the EURUSD goes sideways or slightly upward? It's hard to see the EURUSD making much progress if the EURAUD and EURNZD continue to fall. Then again, if EURGBP can get over 74 and EURCHF can get over 1, then that should help EURUSD.
I think commodities found bottom and begin to rally but the rally is limited because the commodity demand is still low cause of global slowdown.
And stock.
US stock could benefit from FED hesitation.
Low rate means low borrow cost, so US Equity gets benefit from it , so the rally is understandable, recent rally in stock proved this.