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  • No change in interest rates is expected, but the central bank could adopt a more hawkish language in response to the deteriorating inflation outlook. Get your market update from @DColmanFX here:https://t.co/esLi7FLRNH https://t.co/t7RqVjIf9X
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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.95% 🇨🇦CAD: 0.84% 🇦🇺AUD: 0.82% 🇨🇭CHF: 0.55% 🇪🇺EUR: 0.45% 🇯🇵JPY: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YYaBVuMV7Z
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China Virus Fears Knock Risk Sentiment | Webinar

China Virus Fears Knock Risk Sentiment | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Trader confidence has been hit by the coronavirus outbreak in China but the impact is unlikely to last long.
  • While stock markets are easier and some money has flowed into safe havens, risk appetite overall has held up well.

Trading confidence holds up despite virus fears

Traders have moved out of riskier assets such as stocks and into safe havens like gold as the coronavirus has spread. However, the impact on market sentiment is unlikely to last long. While stock markets are weaker, they are still not far from their highs and the effect on gold has been minimal.

Gold Price Chart, One-Hour Timeframe (January 15-21, 2020)

Latest gold price chart.

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

Elsewhere, US President Donald Trump’s appearance at Davos, his impeachment trial in the US Senate and minor upward forecasts for the Japanese economy by the Bank of Japan have all had little impact one way or the other, leaving the general mood of optimism in place.

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.

--- 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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