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Positive Market Sentiment Drains Away | Webinar

Positive Market Sentiment Drains Away | Webinar

Martin Essex, MSTA,

Market sentiment analysis:

  • Sentiment in global stock markets has drained away on a warning by President Donald Trump that a US-China trade deal may not be concluded until after the US Presidential election in November 2020.
  • US tariffs on other countries, US support for Hong Kong and poor ISM data have also hit confidence, especially in the US Dollar.

Trader confidence drains away

Trading sentiment, particularly in the US Dollar and global stocks, has turned down after a warning by US President Donald Trump that a US-China trade deal may not be concluded until after the US Presidential election in November 2020. US trade disputes with other countries such as Brazil, Argentina and France, US support for the Hong Kong protestors and poor ISM data Monday have also made traders less confident.

This can be seen clearly in the chart below of Wall Street stocks.

Dow Jones Industrial Average Price Chart, 30-Minute Timeframe (December 2-3, 2019)

Latest Wall Street price chart.

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

Elsewhere, German Bund yields are stabilizing at higher levels after news that leading politicians in Germany’s ruling conservative Christian Democratic Union have dismissed demands by the new left-wing leadership of its junior coalition partner, the Social DemocraticParty to renegotiate the terms of their alliance. Higher Bund yields might be expected to strengthen the Euro and thereby EUR/USD.

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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