CFTC: USD longs creeped higher, GBP shorts dropped back - Rabobank
|According to the IMM net speculators’ positioning as at November 13, 2018, USD speculators’ long positions have been creeping higher for seven consecutive sessions and are now at their highest levels since April 2017, notes the research team at Rabobank.
Key Quotes
“Short EUR positions surged in early November and eased back last week, although they remain at elevated levels.”
“GBP shorts dropped back in the latest set of data. However, since then the situation regarding UK politics and Brexit has intensified.”
“Net JPY short positions surged last week, reversing the trend of the previous three sessions.”
“CHF net shorts edged modestly, though recent movements have been broadly consolidative.”
“CAD shorts edged up but are holding close to last week’s level, just below zero. Oil prices remain in view as does speculation that OPEC may cut supply.”
“AUD shorts have dropped lower having moved to their greatest level since March 2015 earlier in the month.”
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