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- USD longs surged, EUR shorts dropped – Rabobank
USD longs surged, EUR shorts dropped – Rabobank
According to CFTC Commitment of Traders Report, USD net longs surged to their strongest levels since April 2017 last week, note Rabobank's analysts.
- “Net EUR short positions dropped to their most extreme levels since June.
- Net short GBP positions dropped moderately having surged the previous week.
- JPY net positions have been back in positive ground for seven straight weeks on safe-haven demand, though they are off their recent highs.
- CHF net shorts climbed a little last week. Despite its safe-haven status, signs that the SNB has recently intervened in the FX market have distorted demand for the CHF.
- CAD net long positions surged as the BoC remained defiant at its Sep 4 policy meeting. This view was subsequently underpinned by a strong Canadian jobs report.
- AUD net shorts dropped last week. The AUD’s role as a proxy for confidence in China suggests that trade talks between the US and China are providing direction.”
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