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Market Sentiment Positive, Wall Street Stocks Up, GBP Weak All Round | Webinar

Market Sentiment Positive, Wall Street Stocks Up, GBP Weak All Round | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Trader confidence remains high ahead of this week’s monetary policy decisions by the Federal Reserve, the Bank of England and the Bank of Japan.
  • Trading will likely be cautious ahead of those announcements but Wall Street stocks continue to defy gravity while, by contrast, the British Pound looks weak against most other currencies.
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Trader confidence high

Traders are confident ahead of this week’s policy announcements by the US Federal Reserve, the Bank of England and the Bank of Japan. The Fed will keep its monetary policy unchanged but it will still be interesting to see whether it gives any indication that it might tighten policy sooner than previously expected in anticipation of a strong economic recovery and rising inflation.

That confidence is especially evident in the US stock market, where prices are still hitting record highs.

S&P 500 Price Chart, Daily Timeframe (October 19, 2020 – March 16, 2021)

Latest S&P 500 price chart.

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

US 500 Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -8% 7% 2%
Weekly -4% 9% 5%
What does it mean for price action?
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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.

How to Trade FX with Your Stock Trading Strategy
How to Trade FX with Your Stock Trading Strategy
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How to Trade FX with Your Stock Trading Strategy
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--- 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.

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