US Dollar Gets strong as Corporate earnings grow in the market
The corporate earnings of the US and China have made their currency strong. Traders were feeling high when they saw that the corporate earnings were running strong and the factors like US/China economic and trade situations were also going strong. All this news came as a boon for the traders as they know that US currency is going to increase along with China’s. Both the nation’s trade situation will get benefit from the rise of these nations’ currency prices. Apart from this, Iran and Europe are also discussing bringing back the nuclear deal that they had in the past. This means there is a hope that the Iran Rial and Europe’s Euro will get high too.
As the central banks’ meeting is dominating the market for a week in the nations like Europe, Japan, and Canada, the flow of the money will rise for a long period. Also, with the S&P 500, it’s looking strong after the recent gathering of the banking officials. There was a bearish signal for the currency pair AUD/JPY that’s not great news for the traders.
The retail market offers trades of 30.25% that are net-long and have trading ratios that are going too short from 2.31 to 1. The number of traders net-long is 61.90% that is significantly stronger than yesterday and 17.24% that is higher than last week. The collection of trader’s net-short is 4.39% that is low than yesterday and 10.73% which is higher than last week.
From the crowd sentiments and traders’ net shorts; AUD/JPY prices may continue to rise in the fate too. Traders income is less net-short than yesterday & as compared with the last week. The price of AUD/JPY is going to move lower in the future even though traders will remain net short. Let’s see what the future holds and how fast the AUD/JPY is going to move in the future.