Monday April 26, 2010 - 15:08:35 GMT
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SNAP GVI Forex Professional Trader Forex Survey Results
SNAP GVI Forex Professional Trader Forex Survey
Apr 26 (global-view.com) The view of all respondents to the weekly GVI Forex snap poll was for the EURUSD to close Friday April 30 in Europe below 1.3600. Responses were then evenly split from 1.3400 to 1.3600, and below 1.3400. The dominant factor expected to influence trade in the EURUSD this week was the Greek debt situation again and a fear of a growing debt contagion in Europe. A highly select group of professional forex traders were polled by global-view.com on Sunday April 25 and early-Monday April 26
The distribution of USDJPY responses was similar. Results were about evenly distributed between forecasts for 93.00 to 94.00 and above 94.00 with about half of the latter group predicting above 95.00. A range of factors were noted as significant in this relationship this week. Several cited Japanese exporters having to reduce their USD hedge sales. The risk of rising U.S. interest rates was cited as well. Carry trades were also noted as a JPY weight, and some werel focused on an impending forex policy decision on the CNY by China.
Global-View.com cautions that this survey is a snapshot of current sentiment and that forex market sentiment tends to be dynamic. This means that forex market sentiment will evolve over time.
GVI Forex is a private subscription service of Global-view.com. GVI Forex posters are limited to experienced traders. The service is open for viewing by traders of all levels of experience. This weekly sentiment poll is conducted on Mondays for the close of that week and is intended for forex trading. The focus of this sentiment snapshot is on expected directional movements in the EURUSD and USDJPY pairs and on what factors are currently in play for the select group of fund managers and institutional and private traders invited to participate.
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