Market Sentiment Lifted by US, China Optimism | Webinar
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Market sentiment analysis:
- Trader confidence is high currently as China boosts its economy, Friday’s US GDP data are likely to be positive and US corporate earnings look buoyant.
- However, sentiment is patchy, with not all markets benefiting.
Our trading forecasts for Q3 have been published; you can find them here.
And check out the IG Client Sentiment data to help you trade profitably.
Trader confidence rises
Sentiment is improving in the financial markets as optimism rises in both of the world’s two largest economies.
In China, the authorities look set to stimulate the economy, announcing a fiscal package to boost demand in the face of rising trade tensions, and a monetary stimulus package is possibly on the way too. In the US, confidence has been boosted by excellent results from Alphabet, the parent company of Google, and President Donald Trump has been reported as forecasting a 4.8% quarter/quarter rise in GDP annualized in the second quarter, rather than the 4.2% predicted by analysts.
However, as I explained in this webinar, the market response has been patchy, with no major rush into “risk” assets and no major flight from safe havens.
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--- Written by Martin Essex, Analyst and Editor
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.