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BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • US 10yr Treasury yields have fallen further following the strong auction in the 30yr. After hitting a weekly high around 1.70% this morning, yields have dropped to a multi-day low around 1.625%. $USD https://t.co/7rK6uh1uJn
  • US 30yr Treasury auction: - Draw 2.320%, WI 2.338% (prev. 2.295%) - Bid/Cover Ratio: 2.47 (prev. 2.28) 30yr yields tightened to an intraday low following the auction. https://t.co/RbbyJ3A4pZ
  • #Gold Price Forecast: Gold Drifts Towards Range Extremes– $XAUUSD Levels - https://t.co/5UFcmQNpx2 https://t.co/OgP4nFMPG5
  • - Sees inflation slightly exceeding 2% target this year - Don't expect inflation to be running out of control - The Fed has the tools to deal with unwanted higher inflation
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.42%, while traders in Germany 30 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4n1rSAR7VD
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.20% Oil - US Crude: 0.88% Gold: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/eTA7lkr4LN
  • Among the exceptions, Bitcoin continues to power ahead and IG client sentiment data are sending a bearish signal on GBP/JPY. Get your $GBPJPY market update from @MartinSEssex here:https://t.co/YbeAlUh70c https://t.co/QStrfTiK5D
  • - Supply shortages could limit GDP upside - Expecting consumer-price pressures this year - Long-term disinflationary forces should modulate prices
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.27% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.20% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.15% 🇬🇧GBP: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SOlcl3sqbU
  • Fed's Barkin: - Hopeful that US is on brink of completing recovery - Expecting "really strong" spring and summer - Real-time indicators suggests US is "in midst of boom" #Fed $USD
Trader Sentiment Remains Positive | Webinar

Trader Sentiment Remains Positive | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Traders remain confident, with stock markets surging ahead and little demand for safe havens such as the Japanese Yen, the Swiss Franc or Gold.
  • After talks between the US and China on their trade dispute, hopes have risen of a deal despite no concrete signs yet that one is close.

Trader confidence still high

Trading sentiment remains buoyant after the US and China held talks by telephone on their trade dispute, even though there are as yet no concrete signs of a breakthrough. A strong debut for Alibaba in Hong Kong has also helped offset concerns about the unrest there – helping global stocks at the expense of safe havens such as the Japanese Yen, the Swiss Franc and Gold.

Gold Price Chart, 30-Minute Timeframe (November 20-26, 2019)

Latest gold price chart.

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

Elsewhere, the price of Bitcoin has rallied after its recent steep fall but GBP/USD is weaker after the latest opinion poll showing a narrowing gap between the ruling Conservative Party and the Opposition Labour Party ahead of the UK General Election on December 12.

In this webinar, I looked at the trends in the major currency, commodity and stock markets, at the forward-looking data on the economic calendar this week, at the IG Client Sentiment page on the DailyFX website, and at the IG Client Sentiment reports that accompany it. You might also like to check out the DailyFX Trading Global Markets Decoded podcasts.

Resources to help you trade the markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- 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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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