Let’s find out how successful morning session has been for the currency traders on this Monday.
Euro/Dollar’s gradual decline puts the pair point 29% in the red at noon. Trading has been passive, volume is extremely low and most of the market players have been forecasting the pair to move higher. Gradual decline makes losses more likely, but they should be limited by the passive trading.
Pound/Dollar has been trending South as well and a loss of point 3% was recorded at midday. The Cable sees less than half of the monthly average funds and sentiment of the traders is strongly bullish, long positions dominate by 48%. Downtrend was bad news for investors, but the calm trading is what should cushion losses.
Dollar/Yen rose by a total of 56 pips and the pair stood point 45% up from the opening level at 12 o’clock. Traded volume is extremely low and sentiment of the market players is neutral, 10% short. Uptrend was good news for bulls, but the calm trading is the limiting factor here as well.
Pound/Yen has walked in a narrow range of 49 pips, but the pair sees a typical amount of funds. Most of the traders have been bullish in their expectations, long positions are up by 46%. Changes in trading accounts shouldn’t be significant due to the flat rate movement.
Euro/Yen spiked early on, but most of the day has been calm for this pair. Turnover is low and neutral sentiment of the traders is at a balance. Both the flat rate movement and passive trading suggest no major moves in funds are likely.
I’m Celeste Skinner and this wraps up Monday’s Midday Snapshot. We`ll be updating these stats every hour so check back for latest data throughout the day.
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