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  • 🇰🇷 Business Confidence (JUL) Actual: 97 Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.87% 🇨🇦CAD: 0.63% 🇨🇭CHF: 0.43% 🇯🇵JPY: 0.39% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vH1UWZP3Gt
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NPtVj3FLsQ
  • Last week’s price action has produced a shooting star formation and yesterday’s FOMC announcement helped to extend the move, driving the USD lower as the Canadian Dollar bounces from its earlier-month lows.Get your market update from @JStanleyFX here:https://t.co/tiqAYlUxA0 https://t.co/xb08I8gwpU
  • Following Amazon's miss on Q2 revenues, Nasdaq 100 futures give back Thursday's gains $AMZN $NDX $NQ https://t.co/63MAFhIjh4
  • I recently had the pleasure of speaking with @chigrl about women in finance, the FinTwit community and trends in the crude oil space Check out the full interview and article - https://www.dailyfx.com/forex/fundamental/article/special_report/2021/07/29/Commodities-Trader-Chigrl-Talks-FinTwit-Women-and-Trading.html
  • Amazon EPS beat expectations at $15.12 versus $12.28 expected, but net sales fells short of expectations. And @PeterHanksFX says the sales forecast is underwhelming. Therefore, it comes as little surprise that $AMZN is trading down over -5% afterhours https://t.co/JXmIbA9mG4
Watch Retail Sentiment on British Pound into Brexit Vote

Watch Retail Sentiment on British Pound into Brexit Vote

David Rodriguez, Head of Product
Watch Retail Sentiment on British Pound into Brexit Vote

Why and how do we use the SSI in trading? View our video and download the free indicator here

GBPUSD– Retail FX traders have bought aggressively into the British Pound’s recent slide versus the US Dollar, and a contrarian view of ‘crowd’ positioning acts as signal the GBP/USD may continue lower.

Our data shows traders remained net-long GBP/USD as it fell from $1.53 to lows near $1.38, but more recently we have seen periods in which traders turned net-short. If we nonetheless see a continued shift towards buying—much as we have this week—our sentiment indicator will keep us firmly in favor of selling the GBP/USD. It will be critical to watch Sterling price action headed into the highly-anticipated UK ‘Brexit’ vote, and we expect the GBP may remain volatile in the weeks ahead.

See next currency section: USDJPY - US Dollar Looks like a Sell versus Japanese Yen

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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