It’s noon GMT on this week’s first trading day and it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar rose towards the 1 10 level by a total of 40 pips and the pair stood point 25% in the green at noon. Traded volume is extremely low and most of the market players have been forecasting the rate to head lower, sentiment is strongly bearish. Gradual rise makes losses more likely for investors, but they should be cushioned by the passive trading.
Pound/Dollar has been calmer than usual, trading in a total range of just 62 pips and a loss of point 22% was posted at midday. The Cable sees a typical amount of funds and sentiment of the traders is neutral, 4% short. Both sides have had their chances, but moves in funds should be limited by the narrow price movement range.
Dollar/Yen’s high and low difference is just 45 pips, but traded volume is average. Neutral sentiment of the market players is leaning towards the short side by 7%. Success depends on the timing of the trades, but the narrow price movement range is the limiting factor here as well.
Pound/Yen has been calmer than usual, volatility is 67 pips and traded volume is average. Sentiment of the market players is neutral, standing close to a balance. Flat rate movement suggests no major moves in funds are likely.
Euro/Yen rose by 56 pips early in the session and a gain of point 31% was posted at noon. Traded volume is extremely low and most of the market players have been forecasting the rate to head higher. Early rise provided traders with some solid profit chances and a more active approach would have increased them.
I’m Jessica Walker and that’s it for Monday’s Midday Snapshot. We`ll be updating these statistics every hour, so do stay tuned.
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