Market sentiment analysis:
- Investors are still opting for safe havens such as gold and the Japanese Yen.
- However, stock markets remain steady, suggesting that risk aversion is not worsening.
Trader confidence patchy
Safe havens such as gold and the Japanese Yen remain in demand against an unhelpful backdrop for riskier assets as the continuing US-China trade war and the flare-up of tensions in the Gulf continue to unnerve traders.
Gold Price Chart, Daily Timeframe (August 13, 2018 – June 18, 2019)
Chart by IG (You can click on it for a larger image)
However, there are still no signs of panic, with global stock markets holding their ground.
In this webinar, I discussed trading sentiment, looked at the charts of the major assets and ran through the confidence statistics on the calendar this week, as well as 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