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  • #Gold seemed to weaken after the Fed's consumer CPI survey crossed the wires But #XAUUSD is also perceived as an anti-inflation hedge Learn more about why the yellow metal might have did what it did and what to expect ahead in my briefing here - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/05/11/Gold-Price-Outlook-Turns-to-Fed-Speak-After-Consumer-Inflation-Expectations-Jitter.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Cvg3rdlb69
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  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sV6ncqn10p
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  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hxMR9a5jxI
  • Heads Up:🇳🇱 Inflation Rate YoY (APR) due at 04:30 GMT (15min) Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.52% France 40: -1.12% Germany 30: -1.24% FTSE 100: -1.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sAj0aetO3t
  • Retail FX traders (at IG) have pushed up their long $USDCAD position to levels not seen in years which has nudged the net long to approximately 85% of open interest. They are fighting that trend https://t.co/eIOcdLiPik
  • Risk trends is the focus to start this week with the Nasdaq 100 dragging sentiment down through the close of the NY session. My attention is on the Dollar as pairs like $GBPUSD stare down major resistance or reversal: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/11/EURUSD-GBPUSD-and-Nasdaq-Outlook-Key-Levels-and-Events-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/72GGBPMNcw
Forex Trader Sentiment Points to Further Euro Gains

Forex Trader Sentiment Points to Further Euro Gains

David Rodriguez, Head of Product
Forex Trader Sentiment Points to Further Euro Gains

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSD Retail traders remain aggressively short the Euro versus the US Dollar, and a contrarian view of crowd sentiment leaves us watching for continued strength.

The ratio of long to short positions in the EURUSD stands at -2.00 as 33% of traders are long. Yesterday the ratio was -2.06; 33% of open positions were long. Long positions are 4.1% lower than yesterday and 5.5% below levels seen last week. Short positions are 6.9% lower than yesterday and 21.8% above levels seen last week. Open interest is 6.0% lower than yesterday and 7.3% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher.

See next currency section: GBPUSD - British Pound Outlook Remains Bearish

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Forex Trader Sentiment Points to Further Euro Gains

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