Retail Trader Positioning Data Continue to Favor USD | Webinar
Market sentiment analysis:
- Trader sentiment figures are pointing to further gains for the USD against many other major currencies, including the EUR, JPY, CHF and AUD.
- However, the outlook is mixed for GBP as EU officials react skeptically to the latest Brexit proposals from the UK Prime Minister.
IG Client Sentiment data bullish for USD
The latest retail trader positioning data suggest further gains for the US Dollar despite the House of Representatives’ impeachment probe into the US President and an angry response by Donald Trump to the enquiry and reports that he used additional diplomatic channels to go after his political rivals.
EURUSD Price Chart, Two-Hour Timeframe (September 13 – October 1, 2019)
Chart by IG (You can click on it for a larger image)
However, the outlook is mixed for the British Pound as UK Prime Minister Boris Johnson’s latest Brexit plan to avoid a hard border between the Irish Republic and Northern Ireland is met with a skeptical response by the EU.
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 data and at the IG Client Sentiment reports that accompany it.
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--- Written by Martin Essex, Analyst and Editor
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.