Is the risk sentiment on?

Posted Tuesday, July 12, 2016 by
Skerdian Meta • 1 min read

Yesterday the risk aversion sentiment prevailed in the forex market. The commodity Dollars lost nearly a cent against the buck with Canadian Dollar falling the most. The decline in the oil prices had an impact on CAD as well. The Euro and the Pound didn't know what to do as they moved up and down in a range. The Yen would surely benefit during risk aversion periods but the comments for further monetary stimulus from the PM Abe had the Yen bears jump on the short train relentlessly.

Today has been a totally different day thus far. NZD/USD is up about 80 pips, AUD/USD 120 pips and USD/CAD has surged about 150 pips, again being affected but higher oil prices today. GBP/USD has put up the biggest fight since the Brexit referendum turmoil and is taking no prisoners. It has been moving up without any retraces, breaking the 1.32 resistance level and it´s now more than 300 pips up near 1.33. I haven´t heard anything bullish from the UK today, so maybe the forextraders are unloading some of the sell forex positions in this forex pair. 

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