Market sentiment analysis:
- Weakness in the global economy, particularly in China and the Eurozone, is keeping market sentiment positive on hopes that the slowdown will prompt central banks to increase their economic stimulus measures.
- However, the US trade wars and Brexit are preventing the markets from tearing higher.
Traders still optimistic
Measures by China to stimulate economic activity, hopes that the European Central Bank will follow suit in due course and the possibility of lower interest rates in Australia in future are keeping the financial markets buoyant, with global stocks still leading the way higher.
Market sentiment therefore remains positive, despite ongoing concerns about trade wars and Brexit, with the US Dollar continuing to head higher and gold easing back.
In this webinar, I looked at the charts of all the major markets, at the confidence indicators on this week’s calendar and at the signals provided by the IG client sentiment data.
More to read
How data like the PMIs can improve your trading
Using news and events to trade forex
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
