Wednesday April 4, 2007 - 14:19:31 GMT
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Forex Market News - GVI Monthly Forex Poll Results
April 4, 2007
In the April monthly forex spot rate sentiment survey of professional forex dealers by global-view.com, the leading forex discussion website, sentiment for the USD against the EUR has worsened. The three-month ahead mean currency spot rate forecast for EUR/USD was 1.3410 from 1.2998 a month earlier. The EURUSD spot price at the mid-point (April 2 close) of when the survey was being conducted was 1.3365.
The GVI-Cumino Euro bull index (Range 0-100; 0 = most bearish, 100 = most bullish, 50 = neutral) was lower in the EUR/USD at 41 from 55 previously. The GVI-Cumino index uses a theoretical neutral option strategy to measure the intensity and direction of individual trader sentiment from price levels at the time when forecasts were made.
The USD/JPY mean dollar forex spot rate forecast was roughly steady at 116.31 from 116.11 one month ago. The USD/JPY currency spot rate at the mid-point of when the survey was being conducted was 117.80. The GVI-Cumino dollar bull index turned USD negative to 41 from 55.
Traders expect the price of crude oil (WTI) to close at $65.65 in three-months time from the current spot vs. the previous $61.83 estimate.
In a special question on Fed policy for the balance of the year, 50% expect no rate cuts, 35% expect one rate reduction, and only 15% saw two or more cuts.
For complete detailed survey results including history see monthly forex spot rate survey Results
Copyright 2007, Global Viewpoint, Inc.
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