US Greenback, AUD/USD, NZD/USD, IG Consumer Sentiment Outlook – Speaking Factors:
- US Dollar has been struggling to capitalize on haven demand vs AUD, NZD
- IG Consumer Sentiment is providing a bearish outlook for AUD/USD, NZD/USD
- Key downtrend holds within the Aussie, will Kiwi comply with bullish technical hints?
Join me on Wednesdays at 01:00 GMT as I cowl what IG Consumer Sentiment is saying concerning the prevailing developments in monetary markets!
The haven-linked US Greenback has been struggling to rally in opposition to the sentiment-linked Australian and New Zealand {Dollars} regardless of broad weak point in world equities as of late. Basically driving the S&P 500 and Dow Jones decrease because the finish of final week has been rising fears of global trade wars. Can this dynamic proceed? As we speak I take a look at what dealer positioning and technical evaluation must say about that.
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AUD/USD Sentiment Outlook
About 58 p.c of AUD/USD merchants – as reported through IG Client Sentiment (IGCS) – are internet lengthy. Over a weekly foundation, this represents a 10% uptake in these biased to the upside as traders who’re brief appear to be dwindling – see chart under. In consequence, the mixture of present sentiment and up to date adjustments is providing a stronger bearish contrarian buying and selling bias for the…