Market sentiment talking points:
– Indicators of market confidence are sending mixed signals, with AUD/JPY falling but Wall Street stable and the FTSE 100 strengthening.
– That leaves traders free to concentrate on trending assets like the USD, EUR, GBP and oil.
– In this webinar I took a look at market sentiment, confidence and positioning, as well as which markets are currently on the move.
For a longer-term outlook take a look at our Q2 forecast for USD.
Traders are currently neither putting more money into the markets nor cashing in, putting the spotlight on those markets that are currently trending such as the US Dollar and oil (up), and the Euro and British Pound (both down).
The week is also a quiet one for confidence indicators, with the only important one the University of Michigan index of US consumer sentiment, due on Friday.
Emphasizing the lack of overall drivers, the Canadian Dollar, which generally moves with the oil price, is currently failing to benefit from the present strength of crude.
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: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
— Written by Martin Essex, Analyst and Editor
Feel free to contact me via the comments section below, via email at email@example.com or on Twitter @MartinSEssex