European retail investors resumed their bearish stance on the US dollar following the Federal Reserve’s announcement it intends to tighten monetary policy next year, according to SERIX™ sentiment data published by Spectrum Markets, the pan-European trading venue for securitised derivatives. SERIX™ values for currency pairs linked to the US dollar show clearly that investors expected to see the dollar weaken against a range of major currencies, with yesterday’s trading activity on the venue pushing the SERIX™ for USD/CAD down to 71 and USD/JPY to 90. Both are well below the 100-mark which marks the threshold between bullish and bearish sentiment.
Meanwhile SERIX™ values for pairs where USD is the quote currency were firmly bearish, with GBP/USD, EUR/USD and AUS/USD recording values of 137, 126 and 119.
Find out how SERIX™ is calculated here.