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USD longs dropped slightly, EUR longs dropped heavily – Rabobank

According to the IMM net speculators’ positioning as at  September 25, 2018, USD speculators’ long positions dropped slightly, though they remain essentially consolidative.  

Key Quotes

“EUR long positions dropped heavily in the middle of September but managed to win back some ground last week.”

“GBP shorts have been choppy in recent weeks. This no doubt reflects uncertainty regarding Brexit and the UK political backdrop.  As it stands shorts dropped last week and GBP/USD is currently holding its ground in the spot market.”

“Net JPY short positions have increased for a fourth consecutive week and are back to their highest level since March.”

“CHF net shorts have dropped back for five consecutive weeks.”

“CAD shorts lurched lower last week  and could see another fall in the next set of data given the news of a new trade agreement with the US.”

“AUD shorts increased  with concerns about China growth and a slower domestic property market contributing to a cautious central bank.”

 

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