Market sentiment analysis:
- IG client positioning data are flashing bearish signals for the USD against many of the other major currencies.
- That’s despite ongoing concerns about US-China trade and a possible Turkish invasion of the Kurdish-held region of Syria.
IG Client Sentiment data bearish for USD
The latest IG retail trader positioning data suggest losses for the US Dollar despite its role as a safe haven that might have been expected to benefit from the continuing US-China trade tensions and reported preparations by Turkey for a military operation in northeast Syria after the US began pulling back troops from the border, opening the way for a Turkish attack on Kurdish forces.
IG Client Sentiment data (October 8, 2019)
Source: DailyFX (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 data and at the IG Client Sentiment reports that accompany it.
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--- 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
