Market Sentiment Rally Lifts EUR, GBP, AUD, but Stocks Lag | Webinar
Market sentiment analysis:
- Trader confidence is relatively buoyant in the currency markets, benefiting FX pairs such as EUR/USD, GBP/USD and AUD/USD at the expense of the safe-haven US Dollar.
- However, there is less confidence in the stock markets, where a tentative rally seems to have paused for breath.
Trader confidence lifting risk-on currencies
Traders in the FX market look to be increasingly confident, helping currency pairs such as EUR/USD, GBP/USD and AUD/USD, ahead of the first US Presidential debate. At the same time, the safe-haven US Dollar is weakening, while the stock markets are pausing after their recent gains.
Dow Jones Industrial Average Price Chart, One-Hour Timeframe (September 25-29, 2020)
Chart by IG (You can click on it for a larger image)
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 on Twitter @MartinSEssex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.