Let’s find out how traders have managed to work out rate shifts so far on this ECB monetary policy Thursday.
Euro/Dollar has been trending higher, reaching the high of 1 13 before the ECB announcement and then rising sharply once again. Trading has been active and sentiment of the traders is neutral, short positions are up by just 4%. Day has been Euro bullish so far, making profits more likely for bulls.
Pound/Dollar has walked in a narrow range of 47 pips, but the pair sees 43% more than typical funds. Sentiment of the traders is neutral, almost at a balance. Both sides have seen only limited chances as the high and low difference measures at only 47 pips.
Dollar/Yen’s day has been mostly bearish and the pair stands point 21% South of the opening level at midday. Traded volume is average and sentiment of the traders is neutral. Downward pressure has been stronger here, suggesting a successful start of the day for bears.
Pound/Yen rose after the early decline, recovering most of the loss. Turnover is low and the neutral sentiment of the traders is leaning towards the long side by 14%. Both sides have had their profit chances, but they have been limited by the narrow price movement range and calm trading.
Euro/Yen’s early decline was followed by a rise, which took the rate towards the 115 level. Traded volume is average and sentiment of the market players is 9% short. Bullish rate movement has provided plenty of profit chances for those who were long.
I’m Sam Meredith and that’s it for Thursday’s Midday Snapshot, but do click back for hourly updates.
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