USD longs edged back, EUR shorts fell back - Rabobank

Jane Foley, Senior FX Strategist at Rabobank, lists down the IMM net speculators’ positioning as at 08 November 2016.

Key Quotes

“The reported level of net USD longs edged back from the previous week’s strength on uncertainty about the US election result. While the surprise result initially pressured the greenback lower in the spot market, long positions will likely be higher in the next set of data given the market’s anticipation of inflation.”

“Bearish bets against the pound recovered some ground having dropped back during the four previous weeks. The outcome of the UK High Court ruling that specifies that parliament and not the government has the power to trigger Brexit should support hopes that a ‘hard’ Brexit could be avoided.”

“EUR shorts also fell back having returned to levels last recorded in January the previous week. At the October Council meeting, ECB President Draghi commented that QE would not end abruptly and thus signaled that the asset purchases programme could be extended beyond the current March 2017 end date.”

“Net yen longs dropped ahead of the US election result. The subsequent recovery in the USD is likely to keep yen longs under pressure.”

“CAD net shorts increased as oil prices came under pressure. The level of AUD longs grew for a seventh consecutive week following the RBA’s steady policy decision on November 1. Concerns about the impact on China of US protectionism policies, however are set to keep the AUD nervous.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Stop losing your money! 
Learn to trade with us!

24/7 signals + Webinars    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD pressured below 1.1900 amid virus concerns, USD rebound

EUR/USD is trading under pressure below 1.1900 amid US dollar rebound. A softer risk tone, Powell’s upbeat comments extend support to the greenback. ECB Panetta's remarks kept the euro bulls on the defensive and capped gains.


GBP/USD falls toward 1.3650 amid stronger USD, risk-off mood

GBP/USD pair is extending losses toward 1.3650, as the US dollar recovers ground across the board amid risk-aversion. Worries about the AstraZeneca covid vaccine and unrest in Northern Ireland further weigh on the spot.


$1,730 holds the key for XAU/USD bulls amid a modest USD strength

A modest pickup in the USD demand exerted pressure on gold for the second straight session. The risk-off mood, softer US bond yields extended some support and might help limit losses.

Gold News

Dogecoin pauses before continuing 35% ascent

Dogecoin breached an ascending triangle pattern on April 11, triggering a bull run. DOGE spiked nearly 17% in a single candle on the 12-hour chart hitting $0.080. Now, a retracement to the immediate support level at $0.071 seems likely before it starts to climb again.

Read more

S&P 500 Week Ahead: Bears hibernate as records keep getting smashed, earnings season awaits

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.

Read more