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The markets have been impervious, really, to date during this unconventional election cycle.

Look at what's happened to P&G, some amazing firms in China.

China's gone from being a dream for a lot of consumer companies to a real problem all

of those.

It's amazing to me that when Janet Yellen goes out and speaks, she still gets questions about what would the Fed do if we went into a recession.

Bloomberg surveillance, your link to the world of economics, finance, and investment on Bloomberg Radio.

Good morning everybody. It is 9 o'clock on Wall Street. I'm Michael McKee,

along with Francine Lautqua, we're previewing the Fed today. We're looking ahead to the Bank of

Japan. A lot of earnings out there as well. And we had some economic data. The March Advanced Trade Reports, the Commerce Department puts out a number

now that looks ahead, looks at the most recent data that they have on trade and gets it out

more quickly than they used to and it's a big

contraction. In the month of February it was a 62.9 billion dollar trade deficit that falls

to 56.9 and that is having an impact in the currency markets today.

The 4X brief is brought to you by Interactive Brokers, winner of FX Week's 2015 award for the Best Retail FourX

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