The Eurozone economic calendar is fairly light this week leaving the EUR/USD likely to be steered by the US dollar. Get your market update from nickcawley1 here:
. The greenback has drifted lower since mid-July after the US dollar basket printed a 109.02 high. US Treasury yields have fallen over the last couple of weeks as investors look through the current round of sharp US rate hikes and begin to price-in US rate cuts in Q2 2023.
The number of traders net-long is 1.94% higher than yesterday and 2.84% lower from last week, while the number of traders net-short is 5.43% higher than yesterday and 4.65% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current
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