Market sentiment evaluation:Dealer confidence is prone to stay excessive within the coming days regardles
Market sentiment evaluation:
- Dealer confidence is prone to stay excessive within the coming days regardless of a pause for breath.
- Whereas the inventory markets have responded most to the information of vaccines to fight the coronavirus pandemic, the US Greenback continues to be trying weak and oil continues to be trying agency.
Merchants nonetheless assured vaccines will raise the markets
Merchants stay constructive within the wake of the information of two coronavirus vaccines that would finally convey the pandemic below management and raise the worldwide economic system out of its stoop. Whereas extra profit-taking is probably going short-term after the positive aspects for inventory markets particularly over the previous 9 days, it’s unlikely to final lengthy.
S&P 500 Value Chart, One-Hour Timeframe (October 30 – November 17, 2020)
Supply: IG (You may click on on it for a bigger picture)
| Change in | Longs | Shorts | OI |
| Every day | 8% | -3% | 1% |
| Weekly | 4% | 17% | 12% |
On this webinar, I regarded on the developments within the main foreign money, commodity and inventory markets, on the forward-looking information on the financial calendar this week, on the IG Shopper Sentiment web page on the DailyFX web site, and on the IG Shopper Sentiment reviews that accompany it. You may additionally like to take a look at the DailyFX Buying and selling International Markets Decoded podcasts.
— Written by Martin Essex, Analyst and Editor
Be at liberty to contact me on Twitter @MartinSEssex