German price pressures today hit a fresh multi-decade high with annual inflation hitting 7.9%, while monthly inflation rose by 0.9%. Get your market update from nickcawley1 here:
hike expectations have been growing in the past few weeks, over in the US interest rate expectations have been falling as markets price out some of the more hawkish calls. This has led to the Bund/UST 10-year yield spread to narrow, boosting EUR/USD. The daily chart shows a clean break above the 50-day simple moving average, allowing the pair to set up for a re-test of the 1.0800 area.60.52% of traders are net-long with the ratio of traders long to short at 1.53 to 1.
The number of traders net-long is 1.03% higher than yesterday and 11.34% lower from last week, while the number of traders net-short is 6.75% higher than yesterday and 21.82% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current
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