It’s noon GMT on this Wednesday and it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar’s day has been in calm in terms of volatility and traded volume, which is 32% short of the monthly average. Sentiment of the traders is neutral as both sides have been represented in similar numbers. Moves in trading accounts shouldn’t be significant as trading has been passive and rate movement flat.
Pound/Dollar shot up by close to 100 pips and the pair was point 33% in the green at midday. The Cable sees 28% less than typical funds and sentiment of the traders is neutral at 5% long. Rise suggests a successful start of the day is more likely for those who had long positions.
Dollar/Yen has been on a rise and it puts the pair point 38% up from midnight’s level. Turnover is low and the neutral sentiment of the traders is 12% short. Uptrend has provided plenty of profit opportunities for those who had long positions.
Pound/Yen’s steep rise has resulted in a gain of point 71%. Traded volume is average and most of the traders have been forecasting the rate to head South. The rate went in the opposite direction to those forecasts, suggesting losses for investors.
Euro/Yen’s uptrend measures at 43 pips and the pair stands point 24% in the green at midday. Traded volume is extremely low and most of the market players have been predicting the rate to move higher. They have done a good job forecasting the rate movement direction and only the passive approach limits upside potential.
I’m Celeste Skinner and that’s all for Wednesday’s Midday Snapshot, but do click back for hourly updates.
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