US-China Trade Talks: Concern Damages Market Sentiment | Webinar
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Trading sentiment analysis:
- Market sentiment has weakened after US President Donald Trump said Sunday that he would raise tariffs on Chinese imports by the end of the week.
- That has raised fears that the US-China trade talks could suffer, and stock markets are well off their highs, but there has been no flight into safe havens such as Gold.
Market sentiment damaged by Trump
Trading sentiment has suffered a setback after US President Donald Trump said Sunday that he would raise tariffs on $200 billion of Chinese imports to 25% from 10% by the end of the week and would soon target remaining Chinese imports with tariffs.
His comments have helped keep global stock markets below their recent highs even though Chinese Vice Premier Liu He will still visit the US this week to talk about trade and China has said it will maintain its composure.
Wall Street Price Chart, Daily Timeframe (January 7 – May 7, 2019)
Chart by IG (You can click on it for a larger image)
However, there has been no strong demand for safe havens such as Gold, suggesting that for now the markets are keeping their composure.
In this webinar, I looked at the charts of all the major markets, at this week’s confidence figures and at the signals being sent by the IG Client Sentiment data.
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--- Written by Martin Essex, Analyst and Editor
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.