Weighing Market Sentiments 2
Update: GBPUSD & GBPJPY vs. USD
As the ECB & the BOE held rates; the string of reports from the private sector jobs and the Labor department on jobless claims have dampened the spirit of the USD. Market sentiments on negative USD price reaction to this writing weighed heavier.
As the USDx maintained its decline as low as 81.07 slightly above the Feb.25 pivotal price breakaway towards the high. Expecting some pullback reaction from market capitulations coming from the huge Open Interest (bullish) USD speculators after the reports; once again have been caught flat-footed by the sudden decline & outburst of the major European currencies. Likewise, do expect a greater amount of increase in volume activity with declining open interest, on top of the declining USDx for the coming week. With the same case scenario for momentum build-up, increase in open interest and volumes from its European counter-parts. Click to continue
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