Find out how market players have fared in the interbank markets during the morning session on this Tuesday by watching the Dukascopy Midday Snapshot. I`m Jessica Walker.
Euro/Dollar declined by 42 pips after 8 o’clock and it stood point 29% in the red at noon. Trading has been passive, volume is extremely low and the neutral sentiment is close to a balance. Late decline was good news for bears, but any moves in funds should be limited by the passive trading.
Pound/Dollar has had a slow day as well – volatility is just 34 pips and traded volume is low. Most of the traders have been forecasting the rate to head lower. Traders saw some chances during the gradual downtrend, but the calm trading along with the flat rate movement should minimize any moves in funds.
Dollar/Yen rose by 34 pips, but it was back near the opening level at midday. Traded volume is extremely low and the bearish sentiment is 23% short. Trading has been slow and rate movement flat for this pair as well, so both profits and losses shouldn’t be significant.
Pound/Yen has traded in a total range of 59 pips, attracting an average amount of funds. Most of the market players have been expecting the rate to move lower. Traders saw some chances after the daily high was reached, but rate movement has been mostly flat here as well.
Euro/Yen rose to the high of 132 79 before declining by 67 pips. Traded volume is extremely low and sentiment of the traders is strongly bullish at 50% long. Traders have seen both chances and risks, but the passive trading should limit moves in funds.
This wraps up this edition of the Midday Snapshot, but stay tuned for the hourly updates to track the latest changes in performance trends throughout the day.