News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Gold: 0.78% Oil - US Crude: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YIgPqIQiO8
  • Mitch McConnell: There is no GOP support for repealing the tax bill $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.36%, while traders in France 40 are at opposite extremes with 75.62%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XaeYYJbglR
  • The US Dollar (via the DXY Index) continues to trade lower after losing the uptrend from the February and March swing lows. Get your $USD market update from @CVecchioFX here:https://t.co/bvAaeNSVO3 https://t.co/tfKhSt85iN
  • Fed: - Directors of the Federal Reserve saw inflation increasing to 2% or even above
  • Fed: - Directors saw economic recovery gaining momentum - Directors are upbeat about the future, but there is still a lot of doubt - No change in the discount rate was requested by directors of all 12 districts
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% US 500: 0.14% FTSE 100: -0.04% Germany 30: -0.05% Wall Street: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0EWmhOp4AD
  • It is our (mine as well) default habit to look for the breakouts with pressurized trend potential, but current mkt conditions don't support those kinds of setups. That said, $GBPUSD still looks like a good range picture https://t.co/3kcg34Mw0B
  • $EURUSD has continued higher today amidst further US Dollar weakness following the CPI print and a strong 30yr bond auction. The pair is currently trading around the 1.1940 level, at a three week high. $EUR $USD https://t.co/GTIUH2dxov
  • US 10yr Treasury yields have fallen further following the strong auction in the 30yr. After hitting a weekly high around 1.70% this morning, yields have dropped to a multi-day low around 1.625%. $USD https://t.co/7rK6uh1uJn
Market Sentiment Positive, Strong USD Dominating Trading  | Webinar

Market Sentiment Positive, Strong USD Dominating Trading | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Trader confidence is currently high as the global economy recovers from the slump caused by the coronavirus pandemic.
  • This session the markets are pausing for breath but US Treasury yields will likely continue to rise in future, boosting the US Dollar, and that USD strength is dominating market trading.
Advertisement

Traders confident of global recovery

Traders are optimistic that the global economy is recovering, partly thanks to the efforts of central banks and governments to keep monetary policy easy and ensure that fiscal policy is loose too. That is boosting US Treasury yields on fears that a swift recovery could lift inflation and that, in turn, is helping to strengthen the US Dollar.

This USD strength will likely continue once the current pause for breath is over. Other trends that will likely persist are the move into value stocks that were hit hard by the pandemic from tech company stocks, rising oil prices, a higher bitcoin price and weaker gold prices.

US Dollar Basket, One-Hour Timeframe (February 25 – March 9, 2021)

Latest US Dollar price chart.

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

EUR/USD Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -6% -4% -5%
Weekly -23% 23% 1%
What does it mean for price action?
Get My Guide

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 can also read more here about sentiment analysis in forex trading

Building Confidence in Trading
Building Confidence in Trading
Recommended by Martin Essex, MSTA
Building Confidence in Trading
Get My Guide

--- 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.

DISCLOSURES