According to Market Leader with reference to several international sources, the U.S. Dollar is getting less predictable in terms of its behavior, which makes more and more FX traders give up after suffering substantial losses in the currency market.
According to Masterforex-V Academy, the profitability index of 14 major funds calculated by Parker Global Strategies has been going down for 2 months in a row. This is the first time this year. Last time, the index dropped 1,1% after April’s drop by 0,7%. At this point, the previous drops have almost reduced to nothing the previous gains. So far, the index has gained only 0,2 since early 2015 as opposed to last year’s 2,9%.
The mention decline was triggered by the unexpected weakness of the U.S. Dollar when coupled with a sudden economic slowdown in the USA, as seen by many experts. May was a poor month for currency traders as well. This time the Dollar suddenly strengthened, thereby leaving traders puzzled and suffering from losses. The thing is that this unexpected rise came after the Fed’s decision to raise the interest rates until the end of 2015.
So far, experts say that most currency traders were disappointed by the last two months of trading performance. Moreover, most bulls started reducing exposure. As we can see, the Dollar has been a poor asset to trade for profits so far.
At the same time, some experts assume that the Dollar will hit parity with the common European currency by late 2015 since it is going to get stronger while the common currency is likely to go further oddness against other majors. The thing is that the situation around Greece is escalating once again. A couple of week remains till Athens may default on its debt and quit the Eurozone.
