The US dollar is benefiting from a bout of weakness in the Euro and the Japanese Yen and is nearing levels last seen one month ago.
Cyclical stock prices are more likely to rise in the presence of a healthy economy and conversely fall during a downturn. https://...and Japanese Yen. The Euro is still feeling the effects of last weekend’s European Parliamentary Elections and expectations of further rate cuts this year, while the Japanese Yen moved lower after the Bank of Japan said that it would pare back its bond-buying program but the market would have to wait until the July 31st meeting for any details.
IG retail client sentiment shows 22.82% of traders are net-long with the ratio of traders short to long at 3.38 to 1.The number of traders net-long is 6.99% lower than yesterday and 22.81% lower from last week, while the number of traders net-short is 8.89% higher than yesterday and 5.62% higher from last week.may continue to rise.
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