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 November 17th:
- Speculators kept reducing its long exposure on EUR, taking net longs to the lowest level since late July. The relentless advance of the pandemic and the impact on the region’s economy seem to still weigh on investors’ mood, although this vision appears to have been challenged by the recent news of coronavirus vaccines.
- Net shorts in USD dropped to 2-week lows in response to the uncertainty still surrounding the US post-elections political scenario coupled with the absence of fresh headlines of potential stimulus at some point in the near future. As long as market participants continue to support the idea of a “V”-shaped recovery, the dollar is expected to suffer.
- The speculative community pushed GBP net shorts to the highest level since late June, echoing the persistent raise in coronavirus cases and lockdown measures. In addition, EU-UK negotiations remain unclear despite some auspicious headlines as of late.
- Traders increased the net longs in crude oil to 4-week high on the back of renewed optimism following the vaccine headlines and the potential extension of the OPEC+ planned tapering for an extra three months.
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.