Market sentiment, news and analysis:
- Safe-haven assets such as the Japanese Yen, the Swiss Franc, gold and US Treasuries are still in demand.
- That means a minor rally in riskier assets like stocks could be due simply to some profit-taking after their recent losses.
Trader confidence remains weak
Market confidence remains poor, with traders continuing to opt for safe havens such as the Japanese Yen, the Swiss Franc, gold, bitcoin and the government bonds issued by the US and Germany.
Gold Price Chart, Daily Timeframe (July 30, 2018 – June 4, 2019)
Chart by IG (You can click on it for a larger image)
For the moment, some of the riskier assets like stocks that have suffered from the decline in confidence are rallying but there is little evidence yet that their falls have run their course.
In this webinar, I looked at the charts of the major assets, at the confidence indicators on the calendar and at the IG Client Sentiment data.
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,
- A guide specifically for those who are new to forex,
- And 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