CFTC: USD net longs slipped for an eighth consecutive week - Rabobank

Felipe Erazo FXStreet

Expectations that a phase 1 trade deal between the US and China could be close to being achieved coupled with another Fed rate cut in October have boosted risk appetite, according to analysts at Rabobank.

Key quotes

"While this could create some safe-haven support for the USD, disappointing US economic data could undermine the greenback."

"Hopes for some reprieve from trade tensions have reduced demand for safe-haven assets – though this is set to reverse if a phase 1 trade deal cannot be signed."

"JPY net positions held in negative ground for a sixth consecutive week and shorts continued to rise."

Author

Felipe Erazo

FXStreet

Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.

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