There is very little high impact scheduled event risk for the UK and probably for good reason as stagflation concerns begin to stack up. Get your market update from RichardSnowFX here:
Taking a look at the convergence of short and long traders over recent periods , there is a clear move away from longs and an uptick in shorts despite the fact there are still over 64% of traders on the long side. As a contrarian indicator,and market trends tend to move in opposite directions and the fact that we see divergence between longs and shorts may be suggestive of a potential, longer-term uptrend.
The number of traders net-long is 0.17% higher than yesterday and 6.74% lower from last week, while the number of traders net-short is 7.73% higher than yesterday and 17.17% higher from last week. 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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