Trader sentiment analysis:
- Sentiment in the financial markets appears to be improving after Monday’s better-than-expected PMI data from China, the UK and the US.
- Confidence that recession can be avoided is also rising, with the US yield curve no longer inverted.
Market sentiment improving
Confidence is returning to the financial markets after purchasing managers’ indexes for the Chinese, US and UK manufacturing sectors all came in better than expected Monday. Sentiment will likely improve further if the service-sector PMIs released Wednesday beat expectations too.
Here you can find a recording of my webinar in which I looked at the charts of all the major currency, stock and commodity markets, at the latest forward-looking statistics and at the IG client sentiment data.
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— Written by Martin Essex, Analyst and Editor