Daily Alert – Tuesday 9th June 2020: Sentiment turns negative in run up to Fed

Mark Nugent Daily Alert, June 2020

Daily Alert – Tuesday 9th June 2020: Sentiment turns negative in run up to Fed

Yesterday saw indecisive risk-sentiment despite the Nasdaq making a new all-time high and the S&P500 turning positive for the year so far. Things are a bit gloomier today as risk sentiment sours ahead of tomorrow’s Fed Fund Rates and Statement.

The JPY and commodity currencies are acting as expected given the risk sentiment and as such are tradable. GOLD is also acting as expected as it pulls itself up off support. Equities are pulling back which is nice positioning for a long when the sentiment turns.

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