Market Sentiment Positive Towards US Dollar | Webinar
Market sentiment analysis:
- Stock markets are falling but there is no strong demand for safe havens such as the Japanese Yen, the Swiss Franc and gold.
- Meanwhile, the US Dollar is in demand while the British Pound continues to weaken.
Trader sentiment is positive towards the US Dollar but negative towards the British Pound as traders show little appetite for stocks but, at the same time, see little need to buy into the traditional safe havens such as the Japanese Yen, the Swiss Franc and gold.
As the chart below shows, the Dollar index, which measures it against a basket of other currencies, is continuing the advance that began on June 25. You can read more about the Dollar here: USD Price Outlook: More Gains Possible Ahead of Fed Meeting
USD Index Price Chart, Daily Timeframe (January 30 – July 9, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the charts of the major assets, at the confidence data on the calendar this week and at the latest signals from 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.