Midday Forex Snapshot – October 9, 2017

Euro/Dollar has had a slow day – high and low difference is just 28 pips and traded volume is low. A neutral sentiment of the traders is 5% short. The rate has walked in a narrow range and the pair sees less than typical funds, so no major profits or losses are to be expected.

Pound/Dollar has gained more than 100 pips to trade point 69% in the green at noon. Turnover is low and sentiment of the traders is neutral, 4% long. Steep rise has provided plenty of profit opportunities for those who were long. Dollar/Yen’s rate movement is flat and traders haven’t shown interest in this pair – volume is extremely low. Sentiment is neural, but leaning towards the short side by 11%. No significant profits or losses are likely due to the slow trading and flat rate movement. Pound/Yen has moved sharply higher and rise has resulted in a gain of point 8%. Traded volume is low and most of the funds have been driven by bearish expectations. Uptrend makes losses more likely for investors, but the slow trading is what should help to cushion them. Euro/Yen has been calmer than usual, the high and low difference is 40 pips and traded volume is extremely low. Most of the traders have been forecasting the pair to head higher, but no major moves in funds are likely.