Market Sentiment Positive for Stocks, AUD and Risk-On Assets | Webinar
Market sentiment analysis:
- Trader confidence remains high, with stock markets hitting record levels.
- Inflation could rise as the global economy grows but that’s being ignored by traders who remain broadly positive about the outlook.
Trader sentiment positive
Traders are optimistic about the global economic outlook, ignoring the possibility of rising inflation, and are opting for “risk on” assets such as stocks and the Australian Dollar. While the occasional pullback seems likely, the upward trend for these assets remains intact.
S&P 500 Price Chart, Daily Timeframe (November 9, 2020 – April 6, 2021)
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.
--- Written by Martin Essex, Analyst
Feel free to contact me on Twitter @MartinSEssex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.