Market sentiment analysis:
- Confidence in the US Dollar is the dominant market theme at present thanks to hopes of a breakthrough in the US-China trade talks and a tentative deal to avoid another partial US government shutdown.
- That is lifting USD against the Euro, the Japanese Yen and the British Pound.
US Dollar confidence high
Sentiment towards the US Dollar remains positive as US congressional negotiators reach a tentative deal to avoid another partial US government shutdown and US officials arrive in Beijing ahead of high-level trade talks.
In response, global stocks and the US Dollar continue to climb, with USD up against all its major rivals.
US Dollar Index Price Chart, Daily Timeframe (October 26, 2018 – February 12, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar I looked at the latest news, at the charts of key currencies, stock indexes and commodities, and at the forthcoming sentiment indicators on this week’s calendar.
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--- Written by Martin Essex, Analyst and Editor