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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • 🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) Actual: 60.4 Expected: 60.4 Previous: 63.9 https://www.dailyfx.com/economic-calendar#2021-08-02
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/iKSgaB6JUP
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) due at 08:30 GMT (15min) Expected: 60.4 Previous: 63.9 https://www.dailyfx.com/economic-calendar#2021-08-02
  • 💶 Markit Manufacturing PMI Final (JUL) Actual: 62.8 Expected: 62.6 Previous: 63.4 https://www.dailyfx.com/economic-calendar#2021-08-02
  • 🇩🇪 Markit Manufacturing PMI Final (JUL) Actual: 65.9 Expected: 65.6 Previous: 65.1 https://www.dailyfx.com/economic-calendar#2021-08-02
  • 🇮🇹 IHS Markit Manufacturing PMI (JUL) Actual: 60.3 Expected: 61.5 Previous: 62.2 https://www.dailyfx.com/economic-calendar#2021-08-02
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.02%, while traders in Wall Street are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/izlA7uadGr
  • Heads Up:💶 Markit Manufacturing PMI Final (JUL) due at 08:00 GMT (15min) Expected: 62.6 Previous: 63.4 https://www.dailyfx.com/economic-calendar#2021-08-02
  • Heads Up:🇩🇪 Markit Manufacturing PMI Final (JUL) due at 07:55 GMT (15min) Expected: 65.6 Previous: 65.1 https://www.dailyfx.com/economic-calendar#2021-08-02
  • 🇨🇭 https://t.co/IuJgBTnOdA Manufacturing PMI (JUL) Actual: 71.1 Previous: 66.7 https://www.dailyfx.com/economic-calendar#2021-08-02
Trading Sentiment Continues to Deteriorate | Webinar

Trading Sentiment Continues to Deteriorate | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • The European Parliament elections have done nothing to restore trader confidence.
  • Money continues to flow into haven assets such as the Japanese Yen and German Bunds, while stock markets remain off their recent highs.

Trader confidence ebbs

The results of the European Parliament elections have failed to restore confidence in the financial markets despite a poorer showing for the far right than some traders had expected. The overall picture remains one of waning support for mainstream parties, with a possible confrontation between the EU and Italy a particular concern for Euro bulls.

EURUSD Price Chart, One-Hour Timeframe (May 13 – May 28, 2019)

Latest EURUSD price chart.

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

That has damaged risk sentiment, increasing the demand for havens such as German Bunds and resulting in Bund yields hitting their lowest levels since September 2016. Concerns about who might become the next President of the European Central Bank are also a background worry, outweighing talk of more monetary stimulus from China.

By contrast, stock markets remain well off their highs while the Japanese Yen, the Swiss Franc and Bitcoin are benefiting. Sterling remains under pressure from Brexit.

GBP Price Outlook: Downtrend Still in Place After European Elections

In this webinar, I looked at the charts of all the major assets, at the forthcoming confidence figures that might move the markets and at the latest IG Client Sentiment data.

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES