On Monday, risk assets appear to be stabilizing after last week’s short-lived panic. See what changes in client sentiment suggest about gold, oil and AUD/USD
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....On Monday we witness a very different start to the trading week than we did last week. It would appear that the short-lived panic has subsided to more reasonable levels, with the) declining from 65 to just over 20, ahead of the New York open.
However, the mixed signals ‘less net-long than yesterday but more net-long than last week’ combined with recent changes in positioning, result in a complex trading bias for Gold. The combination of current sentiment and recent changes gives us a further, with a long-to-short ratio of 4.79 to 1. Net-long traders have increased by 1.78% from yesterday but decreased by 5.84% from last week. Net-short traders show an increase of 2.86% since yesterday and a significant 36.39% rise from last week.
However, the reduction in net-long positions compared to both yesterday and last week, combined with the increase in net-short positions,. This is despite the overall net-long bias that remains in place.EUR/GBP IG Client Sentiment: Our data shows traders are now at their least net-long EUR/GBP since Nov 11 when EUR/GBP traded near 0.87.Germany 40 IG Client Sentiment: Our data shows traders are now net-long Germany 40 for the first time since Nov 09, 2023 when Germany 40 traded near 15,261.50.
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