It’s noon GMT on this Wednesday, and it’s time for the Midday Snapshot.
Euro/Dollar’s daily volatility reaches just 32 pips, and the pair was back at the opening level at noon. Trading has been typical in terms of volume, and most traders had anticipated a rise, as long positions are up by 23%. Success depends on timing, although it will be limited by the low volatility.
The Cable has been moving in waves, but the single biggest move was a gain of 74 pips. The rate was point 13% in the red after 12 hours of trading. This pair sees the usual amount of funding, and the neutral traders sentiment stands at 11% long. Both sides had their chances during the day.
Dollar/Yen has had a bearish session, and a drop of 70 pips left it point 4% in the red at noon. Traded volume is close to this pair’s usual amount, and the sentiment is neutral at 4% short. Bears have been in much better positions, whereas bulls did face risks.
Pound/Yen is down as well, having lost 102 pips or point 53%. Traded volume is one third down from the monthly average, and the sentiment is neutral at 14% short. Success is likely for the small majority of bears, although more funding would’ve increased it.
And Euro/Yen is yet another Yen pair which has seen a decline, and a loss of 75 pips left it point 4% in the red at midday. Traded volume is in line with this pair’s usual amount, and the sentiment, much like the rate movement, is bearish at 20% short. This suggests most traders have had a good day.
I’m Jessica Walker and this is how things look so far, but you may track the latest developments with the hourly updates.
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