CFTC Positioning Report: EUR net longs in multi-month lows
|These are the main highlights of the CFTC Positioning Report for the week ended on October 6h:
- Net longs in EUR receded to levels last seen in late July. Concerns over the second wave of the coronavirus and its impact coupled with increasing restrictions already in place by several countries appear to have undermined the confidence of a rapid economic recovery in the region. In addition, the recent dovish tone from the ECB might have played against the European currency as well.
- USD net shorts dropped to the lowest level so far this year around 3K contracts. Fears that the pandemic could undermine the recovery appear to have lent some support to the buck in past sessions. However, the selling sentiment around the dollar could well come back pari passu with further consensus of a Biden win, as this view is already perceived as negative for the greenback.
- Still in the safe haven universe, speculators trimmed their gross longs in JPY for the third week in a row, taking the net position to 4-week lows around 21.1K contracts. Regarding CHF, net longs stayed pretty much unchanged at 2-week highs.
- Net longs in Gold rose to the highest level since July 21st following concerns over the health of President Trump and the unremitting advance of the COVID-19 pandemic.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.