We’re halfway through this week’s first trading day, so let’s take a look at the rate movements and trader performance.
Euro/Dollar stood point 17% in the green after walking in the total range of just 30 pips. The narrow rate movement has attracted little funding, and the neutral trader’s sentiment stands at 13% short. Any major shifts in funds are quite unlikely.
The Cable went down after 7 o’clock, losing 63 pips, and the pair stood point 1% in the red at noon. Traded volume is 27% down from the monthly average, and the sentiment is neutral at 2% long. The overall trend has been slightly more favourable for bears.
Dollar/Yen has also had a bearish start of the week, as a loss of 59 pips left it point 32% down from the opening level at 12 o’clock. Once again, trading has been slower than usual, and traders sentiment is close to a balance. Bears have been in better positions so far.
Pound/Yen was trending lower for most of the session, losing 110 pips or point 42%, but trading volume still remained low at 41% down from the monthly average. Most traders, however, had anticipated a decline, as short positions are up by 15%. Trading should be successful, although more funding would’ve increased the profits.
And Euro/Yen is yet another bearish pair, as a loss of 54 pips left it point 16% in the red at noon. This pair sees less than half the usual funding, and the sentiment is neutral at 3% short. The low volume should limit any profits or losses.
I’m Sam Meredith and you’ve been watching the Midday Snapshot for Monday. You may track the latest developments with the hourly updates.
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