We’re halfway through this week’s last trading day, so let’s take a closer look at the rate movements and trader performance.
Euro/Dollar has seen little movement, as its daily volatility reaches just 31 pips, and the pair stood a fraction in the green at noon. The sluggish movement still has attracted 80% more funding than usual, and the sentiment is bearish at 15% short. The low volatility suggests any profits or losses will be limited, but the high volume could offset it to some extent.
The Cable has been trending South for most of the session, losing 131 pips in the process, and the total loss reached point 85% at midday. This pair sees one third more funding than usual, and the sentiment is neutral at 14% long. Losses are quite likely for the small majority of bulls.
Dollar/Yen’s initial rise was followed by a decline of 58 pips, and the pair stood at the opening level after 12 hours of trading. Traded volume is in line with the monthly average, and the sentiment is neutral at 1% long. Success depends on timing, but most of the time, the movement was more favourable for bears.
Pound/Yen is another Sterling pair which has had a bearish session, as a decline of 177 pips left it point 86% down from the opening level after 12 hours of trading. Trading has been less active than usual, and the neutral traders sentiment stands at 6% long. Bears have had some good chances for profit, whereas bulls faced risks.
And Euro/Yen was back near the opening level after walking in the total range of 57 pips. This pair sees 41% less funding than usual, and the sentiment is bearish as short positions are up by 17%. Traders did have their chances, but any profits will probably be limited by the low volatility.
I’m Kiays Khalil and you’ve been watching the Midday Snapshot for Friday. You may track the latest movements with the hourly updates.
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