USD longs surge, EUR shorts jump higher – Rabobank
|According to CFTC’s Commitment of Traders Report, USD net longs crept higher to their strongest levels since March, notes the research team at Rabobank.
Key Quotes
“Even though markets are looking ahead to further Fed easing this week the USD can also be sensitive to the overall level of risk appetite and outflows from emerging markets.”
“Net EUR short positions edged even higher last week ahead of the September ECB meeting.”
“Net short GBP positions have surged, though they remain below their August high.”
“JPY net positions have been back in positive ground for six straight weeks on safe haven demand.”
“CHF net shorts eased a little last week on increased demand for safe haven assets.”
“CAD net long positions surged as the BoC remained defiant at its Sep 4 policy meeting.”
“AUD net shorts edged slightly lower for a fourth week.”
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