Market sentiment analysis:
- Traders are becoming more confident in the outlook for the US Dollar and global stock markets.
- However, sentiment towards the British Pound is less positive.
Traders becoming more confident
Sentiment is improving in the financial markets thanks to firmer US data – and particularly surging jobs growth – alongside hopes of an end soon to the US tightening of monetary policy. However, global growth concerns and the ongoing US-China trade war continue to add a note of caution.
Elsewhere, the Australian Dollar is benefiting from a less dovish than expected central bank and the crude oil price is up on tighter supplies and the political situation in Venezuela. However, the British Pound seems to be losing momentum as the Brexit talks continue to show few signs of a breakthrough.
In this webinar, I discussed market sentiment in general, took a look at the charts and outlined the data expected this week.
Resources to help you trade the forex markets:
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- Analytical and educational webinars hosted several times per day,
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- A guide specifically for those who are new to forex,
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--- 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
