Poor Market Sentiment Drives USD Buying | Webinar
Market sentiment analysis:
- Traders remain concerned about the US-China trade war and Brexit.
- That’s strengthening the US Dollar and gold, while weakening Sterling and stock markets.
Risk off still dominant market theme
“Risk off” remains the main driver of financial markets as US-China trade tensions continue to push investors to the relative safety of the US Dollar and gold at the expense of global stocks. Meanwhile, the Pound remains weak on another potentially crucial week for Brexit.
GBPUSD Price Chart, Weekly Timeframe (June 20, 2016 – September 3, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the trends in the major currency, commodity and stock markets, at the forward-looking data on the calendar this week and at the retail trader positioning 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.