I estimate ten years before Europe is free from Russian carbon fuels. At that point, Russian will go bankrupt because it is a one trick pony. In the meantime, I think Russia is trying to destabilize the Middle East to get oil prices spiking higher. I think we may even see a Russian jet fighter and US jet fighter go at it.
Notice that bad new is bad news and not good news. Not that long ago a bad employment report would have sent the market screaming higher on the stance that the FED would not raise. That is when you know you are in a bull market. When bad news is bad news, watch out. The FED ZIRP and the economy slowing hard is the end of the line. ZIRP has stopped working. The FED has run out of bullets. It was a huge mistake not to raise to about 2% in 2013. Now, they have no bullets left in the chamber. QE4?
No question the FX market believed the FED was serious about rate hikes. The DXY keeps selling off, and $/NOK and $/CAD seem bottomless. $/YEN is drunk. Hard to tell what is the tail and what is the dog though.