Wednesday May 2, 2007 - 14:03:36 GMT
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Global-View - www.global-view.com
GVI Monthly Forex Poll Results
In the May 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 1.3660 from 1.3365 a month earlier. The EUR/USD spot price at the mid-point (April 30 close) of when the survey was being conducted was 1.3660.
The GVI-Cumino Euro bull index (Range 0-100; 0 = most bearish, 100 = most bullish, 50 = neutral) was weaker in the EUR/USD at 48 from 54 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 improved to 118.17 from 116.11 one month ago. The USD/JPY currency spot rate at the mid-point of when the survey was being conducted was 119.45. The GVI-Cumino dollar bull index turned USD neutral. It was 48 after 41.
Traders expect the price of crude oil (WTI) to close at $69.00 in three-months time from the current spot vs. the previous $65.65 estimate.
In a special question, 27% said they felt that the ECB refi rate (3.75%) would peak at 4.00% or below in 2007. 48% saw a 4.25% top, and 25% said it would reach 4.50% or higher.
For complete detailed survey results including history see:
Monthly forex spot rate survey
Forex Trading News
Daily Forex Market News
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