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  • White House plans call with congressional problem solvers caucus on Tuesday to discuss $1.9trillion COVID-19 stimulus bill
  • $GBPCHF has strengthened today, rising from a morning low around 1.2105 to currently trade around 1.2190. The pair is currently testing its highest levels since the onset of the Covid pandemic. $GBP $CHF https://t.co/q2bH28zYi6
  • ECB's Villeroy says we monitor carefully the implications of the exchange rate on the inflation outlook $EUR
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.49% 🇬🇧GBP: 0.42% 🇪🇺EUR: 0.29% 🇨🇭CHF: 0.15% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SuCtbOvRLU
  • Poll: Which of these extraordinarily volatile and recently popular assets is most disconnected from 'traditional fundamentals' and fully in the hands of the speculative tribe?
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.01% France 40: 1.51% FTSE 100: 0.51% Wall Street: 0.15% US 500: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6OgqApsW9T
  • The Conference Board's Consumer Confidence survey edged up with this morning's January reading, but that marginal uptick can't touch the impressive charge of speculative conviction via the likes of the $SPX https://t.co/zztL1tzlfE
  • $AUDUSD has strengthened by around 50 pips this morning, climbing from a morning low below 0.7700 to currently trade around 0.7750, its highest level since last week. $AUD $USD https://t.co/UDJ8i9mifv
  • Italian PM Conte has informed his cabinet that he will resign, which has come ahead of the Senate vote on the justice minister’s annual report, where there had been a risk of a government defeat. Get your market update from @JMcQueenFX here:https://t.co/U3ZTcYF3BH https://t.co/GIZLlT2a5I
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.79% Gold: -0.04% Oil - US Crude: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/2iQkw0sGZf
Market Sentiment Improving on Vaccine Hopes | Webinar

Market Sentiment Improving on Vaccine Hopes | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Trader confidence is rising on hopes that an experimental Covid-19 vaccine could provide protection and news of plans for a €500 billion coronavirus recovery plan for the EU.
  • A UK announcement of lower tariffs on imports post-Brexit is also helping, although worries about a potential trade dispute between Australia and China over barley could dampen confidence.

Traders more confident about risk assets

Traders are becoming more confident about the outlook for riskier assets after the US biotech company Moderna said its experimental Covid-19 vaccine produced protective antibodies in a small group of healthy volunteers. Sentiment was boosted too by news that France and Germany are planning a €500 billion coronavirus recovery fund for the EU, as well as by a UK announcement of lower import tariffs post Brexit.

These developments are outweighing concerns about a possible trade dispute between China and Australia over barley as well as an increase in the Covid-19 death toll in the UK.

AUD/USD Price Chart, 30-Minute Timeframe (May 15 – 19, 2020)

Latest AUDUSD price chart.

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

AUD/USD BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -7% 7% 1%
Weekly -19% 9% -6%
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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.

Interested in learning about leverage in the foreign exchanges? This report could help.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below

https://www.dailyfx.com/sentiment?ref-author=essex

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

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