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Home Forex News

Market Sentiment May Rally Further as FOMO Trades Boost Prices

Forex Tips by Forex Tips
September 15, 2020
in Forex News
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Dow Jones Eyes Support, Straits Times Faces Singapore General Election
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Market sentiment analysis:

  • Trader confidence is currently positive and could well improve further this week as the US, Japanese and UK central banks all signal their willingness to stimulate their economies still further.
  • As ever, that would likely boost ‘risk-on’ assets like stocks, and currencies like AUD, EUR and GBP, at the expense of safe havens such as the US Dollar.

Trader sentiment to improve further

Trader confidence has been boosted by positive Chinese economic data and hopes of a coronavirus vaccine, and could improve further as the Federal Reserve, the Bank of Japan and the Bank of England all signal this week that they are ready to stimulate their economies still further.

That is likely to boost the prices of ‘risk-on’ assets such as stocks, the EUR, GBP and AUD as traders fear missing out on further rallies – all at the expense of havens such as the USD.

What is FOMO in trading? Find out here

AUD/USD Price Chart, One-Hour Timeframe (September 8-15, 2020)

Latest AUD/USD price chart.

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. You might also like to check out the DailyFX Trading Global Markets Decoded podcasts.

Like to know about the three types of FX analysis? Here’s an article explaining them

Starts in:

Live now:

Sep 17

( 16:09 GMT )

Join Day 3 of the DailyFX Summit discussing currencies

DailyFX Education Summit: Trade Your Market – Day 3, Forex

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Webinar has ended

— Written by Martin Essex, Analyst and Editor

Feel free to contact me on Twitter @MartinSEssex





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