Market Sentiment Less Positive Than Previously | Webinar
Market sentiment analysis:
- Trader confidence remains high but the last week has seen more demand for the safe-haven US Dollar.
- That suggests traders are becoming more cautious, although this could be just a short-term rethink before sentiment improves again.
Trader sentiment still positive
Traders are still optimistic about riskier currencies such as AUD, NZD and GBP but perhaps a little less positive than previously. That, though, could be simply a pause before another move out of the safe-haven US Dollar into those “risk on” currencies.
AUD/USD Price Chart, Daily Timeframe (August 31, 2020 – January 12, 2021)
Source: 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.