Find out how market players have managed to work out the rate shifts during the morning session on Thursday.
Euro/Dollar has been trending slowly South and a loss of point 2% was posted at noon. Traded volume is low and sentiment of the traders is neutral as long positions are up by just 3%. Gradual decline puts bears in better positions so far today.
Pound/Dollar has declined by more than 100 pips to stand point 71% South of the opening level at midday. The Cable sees 21% more than typical funds and most of the market players have been forecasting the rate to head higher. Downtrend makes losses more likely for investors.
Dollar/Yen rose in a couple of waves to stand point 2% in the green at 12 o’clock. Turnover is average and sentiment of the traders is neutral, close to a balance. Gradual rise suggests a successful morning session for those who were long.
Pound/Yen’s day has been bearish and a loss of point 52% was posted at noon. Traded volume is average and the bullish sentiment of the traders is leaning towards the long side by 31%. Rate movement can be described as bearish, so losses are more likely for investors.
Euro/Yen has shown sharp shifts in trend, but the biggest move is just 45 pips. Traded volume is high and sentiment of the traders is neutral, just 3% long. Changing trend has provided both sides with their chances, but the narrow price movement range is the limiting factor.
I’m Sam Meredith and this concludes Thursday’s Midday Snapshot. We`ll be updating these stats on an hourly basis, so do stay tuned.
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