The morning session is over on this Monday, so let’s see how things are shaping up.
Euro/Dollar’s initial decline was followed by a rise of 45 pips, which left it point 14% up from the opening level at noon. Trading has been active, and the neutral trader’s sentiment stands at 11% short. The overall trend has been more favourable for bulls, although timing was important.
The Cable was back near the opening level after walking in the total range of 56 pips. Traded volume is about a quarter down from this pair’s usual volume, and the sentiment is neutral at 10% long. Success depends on timing, although it probably will be limited by the low volume.
Dollar/Yen lost 72 pips after 1 AM, although it did recover some ground and stood just a fraction in the red at midday. Trading, however, has been very slow, and the sentiment is neutral at 4% short. The slow trading should limit any major shifts in funds.
Pound/Yen has seen its fair share of volatility, which reaches 100 pips, but it was back near the starting point at 12 o’clock. Trading has been typical in terms of volume, and the sentiment is neutral at 2% short. Both sides had their chances during the day.
And Euro/Yen has also been moving in waves. Its single biggest move was a drop of 68 pips, but it was a fraction in the green at noon. Traded volume is more than a half down from the monthly average, and the sentiment is neutral at 9% short. Once again, the low volume suggests major profits are unlikely.
I’m Kiays Khalil and you’ve been watching the Midday Snapshot for Monday. Stay tuned for the latest updates throughout the day.
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