We’re halfway through this week’s first trading day, so let’s see how things are shaping up for the market players.
Euro/Dollar’s initial rise was followed by a decline of 61 pips, which left it point 16% in the red at noon. Trading has been slow, and sentiment is neutral at 8% long. The low volume makes any major shifts in funds unlikely.
Pound/Dollar has had a bullish start of the week, going up by 144 pips. The total gain reached point 37% after 12 hours of trading. This pair sees the usual amount of funding, and the sentiment is neutral at 6% long. The uptrend makes success much more likely for bulls, although bears did have some chances.
Dollar/Yen has seen limited movement, and it was back near the opening level after walking in the total range of 48 pips. Traded volume is less than half of the monthly average, and the sentiment is neutral at just 1% long. Both the sluggish rate movement and low volume should limit any gains or losses.
Pound/Yen did see both ups and downs, but the overall trend has been bullish, and the pair was point 33% up from the opening level at midday. Once again, trading has been slow, and the sentiment is neutral, close to a balance. The overall trend has been more favourable for bulls, although bears did have some chances.
And Euro/Yen started moving lower after 5 o’clock in the morning, losing a total of 87 pips. The pair stood point 2% in the red at noon. Traded volume is 54% down from the usual amount, and trader’s sentiment is neutral as long positions prevail by 8%. Any profits will be limited, but they are more likely for bears.
I’m Celeste Skinner and you’ve been watching the Midday Snapshot for Monday. You can follow the latest developments with the hourly updates.
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