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Market sentiment analysis:

  • The ongoing dispute between the US and Iran, along with continuing concern about US-China trade relations, continues to hurt market sentiment.
  • While the stock markets are holding up well, the US Dollar is under downward pressure from continuing talk of several US rate cuts this year.

Market sentiment poor

Trader confidence is low at present due to the worsening of relations between the US and Iran, as well as the ongoing US-China trade war, although stock markets are so far holding up well. Moreover, sentiment towards the US Dollar is being damaged by continuing talk of further rate cuts this year.

EURUSD Price Chart, Hourly Timeframe (June 18-25, 2019)

Latest EURUSD price chart.

Chart by IG (You can click on it for a larger image)

In this webinar, I looked at the chart of all the major assets, at the sentiment data on the calendar this week, at the news driving the markets and at the technical outlook.

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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