Market sentiment evaluation:
- Merchants stay very assured concerning the monetary markets, with most of the main inventory market indexes at file highs and no indicators but of a change in development.
- Oddly the US Dollar, which is seen as a secure haven, is stronger too, and the price of gold is even stronger, suggesting the straightforward “threat on/threat off” equation doesn’t presently apply.
Dealer confidence excessive
Dealer confidence stays robust within the monetary markets, with US inventory indexes nonetheless near their current file highs, and new all-time highs recorded in a number of European markets. Furthermore, there are few indicators but of a serious correction, and even additional positive aspects appear probably.
Apparently, the safe-haven US Greenback is in demand too, and the gold value is firmer nonetheless, pointing to a breakdown within the standard “threat on/threat off” dynamic and suggesting that particular person markets are responding to idiosyncratic elements. Right here too, there are few alerts but {that a} reversal is shut.
US Greenback Index Value Chart, Every day Timeframe (Might 20 – November 16, 2021)
Chart by IG (You may click on on it for a bigger picture)
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On this webinar, I seemed on the traits within the main forex, commodity and inventory markets, on the forward-looking knowledge on the economic calendar this week, on the IG Client Sentiment page on the DailyFX website, and on the IG Client Sentiment reports that accompany it.
— Written by Martin Essex, Analyst
Be happy to contact me on Twitter @MartinSEssex
