According to CFTC’s Commitment of Traders Report, USD net longs surged to their strongest levels since April 2017 in the previous set of data and crept a little higher last week, notes the research team at Rabobank.
Key Quotes
“Net EUR short positions gave up some ground last week.”
“Net short GBP positions dropped back for a second consecutive week.”
“JPY net positions have been back in positive ground for eight straight weeks on safe haven demand, but they have fallen back for the past two.”
“Latest data show CHF net shorts climbing for a second week. Despite its safe haven status, signs that the SNB has recently intervened in the FX market have distorted demand for the CHF.”
“CAD net long positions dropped back sharply last week. The fall back in oil prices since the middle of the month have weighed on the CAD.”
“AUD net shorts recovered some ground last week.”
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