This is probably neither here nor there, as the old saying goes, but I noticed something unusual this morning. Here is a graph of the EUR/USD (black line) and the @ESU9 (blue line). In other words, it expresses, on a minute bar scale, the movements of the dollar (in inverse form) and the equities market.
These two have been moving in lockstep for a while now, but I noticed that a big spike in the EUR/USD didn't really budge the equities markets. Any comments as to why?
