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OPEC+ Agrees to Stick With Plan to Hike Production, Oil Prices Plunge

Market Sentiment Improves After New Year Dive | Webinar

Market Sentiment Improves After New Year Dive | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Trader confidence has improved after diving on the conflict between the US and Iran.
  • Safe-haven demand has weakened, to the benefit of riskier assets.

Trader confidence picks up

Traders have become more optimistic about the dispute been the US and Iran, helping riskier assets to rally at the expense of safe havens. Confidence in the global economy and of progress in the US-China trade dispute have helped too.

The price of crude oil – which jumped last week – has since fallen back substantially.

US Crude Oil Price Chart, One-Hour Timeframe (January 1-7, 2020)

Latest crude oil price chart

Chart by 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 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.

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