Trading sentiment news and analysis:
- A rally in Wall Street stocks and a rising Australian Dollar against the Japanese Yen suggest that market confidence is improving.
- However, the risk rally is patchy, with the gold price steady but the crude oil price still falling.
Risk assets rally modestly
Traders look to be dipping their toes back into the markets, with Wall Street stocks rallying and the ‘risk on’ Australian Dollar rising against the ‘safe haven’ Japanese Yen. However, there has been no sharp fall in the gold price, as might be expected if confidence was high, and crude oil prices are still dropping.
AUDJPY Price Chart, Hourly Timeframe (October 30 – November 6, 2018)
In this webinar, I looked at the trends in market sentiment and how individual markets are being affected.
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,
- A guide specifically for those who are new to forex,
- And 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
