Traditional Markets

The first time Donald Trump met with Emmanuel Macron the two shared a special handshake that will be analyzed by political scientists for years to come. When they met two months later it seemed they simply couldn't let go of one another.

Though both of the above-linked videos are highly entertaining, the agenda for Macron's three-day visit to Washington is extremely serious.

The young French philosophy major will attempt to convince the reality star billionaire that trade wars are bad ideas and that Obama's deal with Iran is good. In short, he has his work cut out for him. In fact, he will be speaking directly with the world's biggest proponent of a wall.

None of this may actually matter to Wall Street, which is currently at the peak of earning season's euphoria. This week we'll get to peek under the hood of some of the biggest corporations in the world.

It's very rare for stocks to go down during earnings season but with the market action we've seen so far this year, it wouldn't surprise me.

What is for sure is that stock traders are getting picky about what they hold. This chart shows that the famous FAANG stocks, which have been rising in unison for the last few years, have been showing some distinct syncopation since the market rout of February 2nd.

Yen Aggression

Speaking in an exclusive interview last night, the Bank of Japan's Governor Kuroda-San stated that they “must continue very strong accommodative monetary policy for some time.”

Meaning, they are planning to maintain their aggressive stance towards weakening the Japanese Yen, possibly for years to come.

The BoJ will be holding a meeting and press conference this Friday, which is likely to reiterate their weak Yen policy and maintain their negative interest rates.

With the USDJPY so far below its yearly average (yellow), a move up to 111 may be imminent.