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- USD longs slipped, EUR shorts increased – Rabobank
USD longs slipped, EUR shorts increased – Rabobank
Analysts at Rabobank note that the latest CFTC Commitment of Traders Report showed that USD net longs slipped for a fourth consecutive week.
- “Net EUR short positions increased moderately. The previous week they had dropped sharply to their lowest levels since early September.
- Net short GBP positions dropped back for a seventh consecutive week and are now at their lowest level since May.
- JPY net positions held in negative ground for a third consecutive week.
- CHF net shorts remain broadly stable. Despite its safe-haven status, signs that the SNB is prepared to intervene in the FX market have distorted demand for the CHF.
- CAD net long positions surged again last week. Robust jobs data strengthened the case for steady rates from the BoC going forward.
- AUD net shorts fell for a second consecutive 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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