CFTC Positioning Report: GBP net shorts in multi-month lows

Pablo Piovano FXStreet

These are the main highlights of the latest CFTC Positioning Report for the week ended on November 5^th:

Speculators kept trimming gross shorts in the Sterling, taking net shorts to the lowest level since late May. Shrinking odds for a ‘no deal’ Brexit in tandem with rising speculations that PM B.Johnson could clinch a majority win in the December elections have been bolstering the upside momentum around the quid.
JPY net shorts increased to levels last seen in June, always on the back of the recent improvement in the US-China trade scenario and the perceived likelihood that the ‘Phase One’ deal could be signed anytime soon.
AUD saw an important uptick in gross longs, dragging the net shorts to the lowest level since the mid-June 2018. Upbeat news from the US-China scenario coupled with the expected ‘wait-and-see’ mode from the RBA gave much-needed oxygen to the Aussie Dollar during last week.

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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