Market sentiment analysis:
- As traders remain wary ahead of this week’s decisions on US monetary policy by the Federal Reserve, there are no clear signals from IG client sentiment data on either USD/CAD or gold, two of the most popular assets currently with retail traders.
- However, the numbers point to moves higher in both USD/CHF and EUR/CHF, suggesting weakness all round in the Swiss Franc.
Sentiment data send bullish signals for USD/CHF, EUR/CHF
IG client sentiment data are sending bullish signals for both USD/CHF and EUR/CHF, suggesting a weaker Swiss Franc all round. With few confidence figures on the calendar this week, it will be dominated by the Federal Reserve’s decisions on monetary policy but, longer term, concerns will remain about inflation as the global economy recovers from the slump caused by the coronavirus pandemic.
IG Client Sentiment Data Signals at 1000 GMT on June 15
Source: DailyFX (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.
— Written by Martin Essex, Analyst
Feel free to contact me on Twitter @MartinSEssex
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