Market Sentiment Data Bullish for USD/JPY, AUD/JPY, EUR/JPY | Webinar
Market sentiment analysis:
- IG client sentiment figures, which show how retail traders are positioned in various markets, suggest possible weakness ahead for the Japanese Yen.
- The data are sending out bullish signals for USD/JPY, AUD/JPY, EUR/JPY and GBP/JPY.
Trader sentiment broadly positive
Traders remain largely optimistic about the markets, preferring riskier assets like stocks and currencies such as the Euro, the British Pound and the Australian Dollar to safe havens such as the US Dollar. Confidence has been boosted by the receding chances of the US Presidential election being disrupted by Donald Trump’s illness and by rising hopes of a US stimulus package.
Meanwhile, IG client sentiment data – which show the positioning of retail traders – are sending out negative signals for the Japanese Yen, with USD/JPY, AUD/JPY, EUR/JPY and GBP/JPY all bullish.
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.