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Retail traders ready to dance with the ugliest in the party

GBPUSD News by Allie Longford on 07:33 Octuber 10, 2016 EST



The week starts calm in the forex market. Hardly any moves in all main currency pairs, commodities and indices. Last night's presidential debate appears to have been won by Donald Trump though the Mexican peso, which is supposed to be somehow correlated with the odds of Clinton winning in the race to the White House, gained some ground against the US buck. Only less than a month to go now until election time.

Retail traders are heavily betting in favour of the British pound and silver. These were the weakest instruments just last week. The pound crashed to multi decade lows and silver gave substantial ground now that it was showings a glimpse of strength. The table shows more than 7 out of 10 retail traders betting for a rebound on both of these instruments.

People are also favouring shorting the EURUSD in a ratio of 60/40.

There is not much in the calendar in terms of scheduled risk events so the calm may continue in the days ahead.


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