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According to the CFTC’s Commitment of Traders Report, net EUR short positions popped higher last week ahead of the September ECB meeting, notes the research team at Rabobank.

Key Quotes

“For the fourth consecutive week net short GBP positions have fallen.”

“JPY net positions have been back in positive ground for five straight weeks but the level dropped back last week as the overall level of risk appetite improved.”

“USD net longs have been little changed over the past 4 or so weeks. Markets are looking ahead to further Fed easing. That said the USD can also be sensitive to the overall level of risk appetite.”

“CHF net shorts pulled back a little ground having dropped heavily the previous week on increased demand for safe haven assets.”

“CAD net long positions dropped for a fourth consecutive week as market speculation of a dovish BoC gathered pace.”

“AUD net shorts edged slightly lower for a third week but remain elevated on dovish RBA hopes.”