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These are the main highlights from the latest CFTC Positioning Report for the week ended on January 21st.

  • Speculators dragged the net shorts in EUR to the lowest level since early August 2019 at more than 47K contracts. Renewed optimism on the region’s fundamentals and the perception that the ECB will remain ‘on hold’ in the next months have been supporting the single currency as of late.
  • Net shorts in AUD continued to retreat, reaching the lowest level since mid-June 2018, always on the back of the upbeat sentiment following the US-China trade agreement (‘Phase 1’) and also supported by positive results from the domestic docket.
  • CHF moved to the positive territory for the first time since late December 2016. The speculative community is now long the Swiss franc after Switzerland has returned to the FX monitoring list elaborated by the US Treasury.