CFTC report: USD net longs kept retreating

Pablo Piovano FXStreet

These are the main highlights of the latest CFTC report for the week ended on December 18:

Speculators kept trimming their USD longs positions, which reached the lowest level since early September 2018. Optimism around US-China trade negotiations and, particularly, the possibility that the Fed could re-assess its monetary stance this year are among the salient headwinds for the buck in the near to medium term.
As a consequence of the above, EUR net shorts decreased to 4-week lows, mainly supported by a better tone in the riskier assets.
GBP net shorts climbed to multi-month peaks on the back of unabated Brexit jitters. In this regard, the House of Commons will vote on January 15 on PM May’s Brexit plan.

Author

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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