Market sentiment analysis:
- Traders have become more optimistic despite the weekend attacks on an oil processing facility and an oil field in Saudi Arabia.
- That’s helping world stock markets and “risk on” currencies.
Risk on now the dominant market theme
Market sentiment is broadly positive despite Saturday’s attacks on Saudi Aramco’s oil processing facility at Abqaiq and the nearby Khurais oil field that led to a huge rise in the prices of crude oil. Rather than prompting a jump in demand for safe havens such as gold, stock markets are buoyant, as are risk-on currencies.
EURUSD Price Chart, Two-Hour Timeframe (August 30 – September 17, 2019)
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 new IG Client Sentiment page on the revamped DailyFX website, at the new IG Client Sentiment reports that accompany it and at the DailyFX Trading Global Markets Decoded podcasts, such as this one.
Resources to help you trade the 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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.