The market has relatively real quiet with the USD in a tight range with the rest of the currency pairs nearly in the same state while awaiting for the upcoming risk events starting of with the UK Consumer price, the BOE minutes, the FOMC on Wednesday the 22rd of May would both be the focus in question to the direction of the market. And in the final two days would be UK GDP still expected to be good and finally the Consumer Price Index figures for Canada would culminate the trading sessions on Thursday & Friday respectively.
With that said the latest COT report where, a flip of other speculative positions to USD long as been seen more often as market conditions have been changing in a shorter period between two to three days apart This kind of market behavior amongst traders just shows how uncertain market movements are based from such risk events that simply draws trade patterns into shorter periods of exposure in spite of the narrow range in between sessions until the day of the main events comes into play. Click to continue
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