Market Sentiment Showing Tentative Signs of Improvement | Webinar
Market sentiment analysis:
- Trader confidence remains poor, with many still opting for the US Dollar as a safe haven.
- However, it is less weak than it has been, helping risk assets to recover.
Trader confidence grows
Trader sentiment continues to be dominated by the latest news on the coronavirus pandemic – and the reactions to it by central banks and governments. For now, it remains negative, with the US Dollar still the main beneficiary, but it is less negative than it has been recently and it is possible that flows back into riskier assets like stocks could begin to build.
Dow Jones Industrial Average Price Chart, Four-Hour Timeframe (February 19 – March 31, 2020)
Chart by IG (You can click on it for a larger image)
A positive reading for Chinese manufacturing activity in March has helped the market mood but confidence in the crude oil market remains exceptionally weak.
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.