Wednesday July 11, 2007 - 13:23:14 GMT
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Global-View - www.global-view.com
FOREX: GVI Monthly Forex Survey Results
In the July 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 1.3542 from 1.3435 a month earlier. The EUR/USD spot price at the mid-point (July 9 close) of when the survey was being conducted was 1.3630.
The GVI-Cumino Euro bull index (Range 0-100; 0 = most bearish, 100 = most bullish, 50 = neutral) was steady in the EUR/USD at 48 from 46 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 122.27 from 120.24 one month ago. The USD/JPY currency spot rate at the mid-point of when the survey was being conducted was 123.35. The GVI-Cumino dollar bull index was 37 after 43.
Traders expect the price of crude oil (WTI) to close at $71.33 in three-months time from the current spot vs. the previous $67.97 estimate.
In a special question, 66% said they felt that the ECB refi rate target (now 4.00%) rate would end the year at 4.50%. 23% saw 4.25% at yearend, and 1% saw a rate above 4.50%.
For complete detailed survey results including history see:
monthly forex spot rate survey
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