Market sentiment analysis:
- Confidence in the markets is weakening, with traders moving from “risk on” assets like stocks to the relative safety of the US Dollar and the Japanese Yen.
- Although not yet extreme, currencies like the Australian Dollar are suffering.
Trader confidence falling
Traders are moving from riskier assets like stocks to the relative safety of havens such as the US Dollar and the Japanese Yen. While not yet a flood, confidence is trickling away on concerns about global economic growth, the US-China trade row and the partial US government shutdown.
The Euro is also under pressure from the latest ZEW survey. However, the British Pound is holding its ground on a positive employment report despite the lack of a breakthrough on Brexit.
In this webinar I looked at the charts of the major markets, the forward-looking indicators on the calendar this week and the IG client sentiment data.
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
