USD longs edged lower, short EUR pushed higher - Rabobank

According to the CFTC’s IMM net speculators’ positioning as at April 23, 2019, USD longs edged lower for a second consecutive week but remain essentially consolidative.  

Key Quotes

“Having dropped lower in the November/December period in response to a more dovish outlook for the Fed, USD longs then consolidated for a lengthy period. Another leg lower occurred in mid-March.”

“Short EUR positions pushed to their highest levels since December 2016. Shorts have been trending higher since the start of the year reflecting the loss of confidence in the outlook for the Eurozone economy and expectations for a more dovish ECB.”

“Unsurprisingly, given the pressure on GBP in the spot market last Tuesday, net positions have dropped back into negative ground having spent just one week above the zero level.”

“Net JPY short positions have continued to trend higher suggesting an improvement in risk appetite.”

“CHF net shorts increased for a third consecutive week in line with the trend that has existed since mid-January – not too different from the movement in the JPY.”

“CAD net shorts dropped back following the previous week’s surge that followed the dovish headlines that accompanied the BoC policy meeting. Oil prices are also in view.”

“AUD net shorts pushed higher again reflecting the dovish implications of the softer than expected Australian Q1 CPI inflation data.”

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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD consolidates losses below 1.3150 amid a tighter election poll

GBP/USD is trading below 1.3150, consolidating its losses after YouGov's MRP poll showed a tighter Conservative majority ahead of the UK elections on Thursday. Trade headlines and the Fed decision are also awaited.


EUR/USD remains pressured below 1.11 amid trade uncertainty, ahead of the Fed

EUR/USD is trading below 1.11, consolidating its gains. Uncertainty about the planned US tariffs on China looms and tension is mounting ahead of US inflation and the all-important Fed decision.


Forex Today: Boris gets a blow from big poll, tariff threat looms, focus on the Fed

President Donald Trump has yet to decide on the December 15 tariffs, according to the Wall Street Journal. On the other hand, the paper says that negotiators are laying the groundwork for a deal.

Read more

Gold stalls two-day winning streak on the Fed day, trade jitters continue

Gold prices register a mild loss of -0.05% while hovering below $ 1465 on Wednesday. The yellow metal seems to have lacked buying interest ahead of the key monetary policy meeting by the US Federal Reserve (Fed).

Gold News

USD/JPY: 200-hour EMA questions immediate rising trend-channel

USD/JPY recently took a U-turn from 200-hour Exponential Moving Average (EMA). Even so, it stays well within the two-day-old rising trend-channel formation. The pair trades around 108.75 at the press time on Wednesday.