These are the main highlights of the CFCT Positioning Report for the week ended on August 27th.
– Investors kept adding to their already positive stance on the safe haven JPY, taking net longs to the highest level since November 1st 2016. US-China trade fears in combination with unease regarding a potential recession in the US bolstered the sentiment towards the safer assets.
– GBP net shorts retreated to five-week lows amidst the resurgence of some hope around a Brexit deal. The Sterling, however, should remain well under pressure as the dust around the UK political scenario is still far from settled.
– Speculators added contracts to the EUR short positions following dovish ECB-speak and unabated concerns over the upcoming ECB stimulus package.
– CAD net longs dropped to the lowest level since July 9th amidst deteriorated sentiment around crude oil and concerns over the US-China trade conflict.
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