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- USD longs slip, EUR shorts drop – Rabobank
USD longs slip, EUR shorts drop – Rabobank
Analysts at Rabobank note that according to the latest CFTC Commitment of Traders Report, USD net longs slipped for a third consecutive week.
- “The Fed’s action to relieve pressure in the US money market may have has some psychological impact in lessening demand for USDs.
- Net EUR short positions dropped sharply to their lowest levels since early September.
- Net short GBP positions dropped back for a sixth consecutive week to their lowest level since June.
- JPY net positions held in negative ground for a second consecutive week.
- Latest data show CHF net shorts falling moderately but remaining broadly stable.
- CAD net long positions surged higher last week. Robust jobs data has strengthened the case for steady rates from the BoC going forward.
- AUD net shorts fell last week. The AUD’s role as a proxy for confidence in China suggests that US/China trade talks are providing direction.”
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