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Trading sentiment news and analysis:

  • The Turkish Lira has rallied in Europe Tuesday after its recent steep losses.
  • That has improved market sentiment, at least for the time being.

Our trading forecasts for Q3 have been published; you can find them here.

Market confidence returns

The Turkish Lira is firmer in European markets Tuesday after its recent tumble, improving trader confidence for now at least.

The TRY losses had previously hit other emerging market currencies and prompted demand for safe havens such as the US Dollar, the Japanese Yen and the Swiss Franc.

USDTRY Price Chart, Ten-Minute Timeframe (August 8 – 14, 2018)

Latest USDTRY price chart.

Chart by IG

Elsewhere, GBP sentiment continues to suffer from fears of a hard Brexit, although that too looks to have stabilized. Gold remain out of favor, failing to benefit from the move into safe havens.

Overall, confidence is still positive – albeit only just – and it’s less positive than it has been recently. You can find out more by listening to the recording above of my latest live sentiment webinar.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex