It`s noon GMT on this Wednesday so let`s have a look at the performance of the market players.
Euro/Dollar has been trending higher and the pair stood point 29% in the green at noon. Traded volume is low and most of the market players have been forecasting the pair to move lower. Uptrend makes losses more likely, but they should be limited by the passive trading.
Pound/Dollar spiked after 7 o’clock by 75 pips and a slight gain was posted at midday. The Cable sees less than half of the monthly average funds and traders have been bullish in their expectations. Spike provided both chances and risks, but the passive trading is what should limit moves in funds.
Dollar/Yen has been calmer than usual, walking in a total range of 45 pips and attracting less than half of the monthly average funds. Sentiment of the market players is neutral, 13% short. Changes in trading accounts shouldn’t be significant due to the passive trading and low volatility.
Pound/Yen declined by 89 pips, but all of the loss was recovered. Turnover is low and sentiment of the traders is neutral, just 4% short. Both sides have had their profit chances, but the slow trading suggests moves in funds shouldn’t be significant.
Euro/Yen has been trending higher to stand point 13% up from the opening level at midday. Traded volume is extremely low and the neutral sentiment of the traders is just 5% short. Bulls have been in better positions as the rate has been mostly heading higher.
I’m Lucy Palfreeman and this wraps up the Midday Snapshot for Wednesday. As usual, these stats will be updated every hour, so stay tuned.
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