The USD CHF main trend has turned decisively lower on the daily chart.

After riding the wave of the weaker Dollar, the British Pound may have temporarily reached the end of its rally this morning.

The AUD USD is trading steady to lower overnight. The market has traded sideways since posting a potentially bearish closing price reversal top on Monday. The subsequent break on Tuesday confirmed the top, however, the currency pair failed to accelerate to the downside as it usually does after a top of this kind.

Stock buybacks and dividend increases for companies in the S&P 500 Index have certainly been on the mend since the end of the financial crisis in 2009. For the first quarter, and on a year over year basis, dividends are 13.7% higher, buybacks are 62.7% higher and buybacks plus dividends are higher by 39.6%.

Hmmm… well… Friday & yesterday were mixed bags really… The Euro topped out on Friday but then blipped back higher yesterday while USDCHF extended gains on Friday and GBPUSD made a more sturdy recovery than I had anticipated… It’s all a bit of a mess really but individually there does still seem to be some logic to the structures…