Recent market sentiment indicates a growing consensus among traders, with an increasing number of operators foreseeing stable market conditions. In January, 43% of operators anticipate stability, up from 36% in December, while the percentage of those predicting downside risks has decreased from 18% to 13%.
According to Massimo Mocio, President of Assiom Forex, despite concerns surrounding the health of US regional banks and record-high index prices, assurances from the Fed regarding its immediate intervention capabilities seem to reassure operators. Many continue to support a bullish view, with opinions evenly split between those expecting indices to remain within a trading range and those believing in continued upward momentum.
Regarding the Euro-Dollar exchange rate, 51% of operators anticipate stability, marking an increase from 47% last month, as both the European and US central banks have completed tightening measures and are expected to reduce interest rates in the coming months.
Conversely, the percentage of operators anticipating a strengthening Euro has decreased from 37% to 31%, while 18% believe the Euro may weaken against the US dollar.
Market sentiment also remains calm regarding the spread between Italian and German bonds, with the possibility of further narrowing. Additionally, the European Central Bank (ECB) is not expected to cut interest rates before June, according to 86% of operators, citing geopolitical uncertainty and the need for definitive data on wage increases.
Overall, market participants remain cautious yet optimistic about the future trajectory of key financial indicators, reflecting a nuanced view of current economic conditions.
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