The CFTC released their latest positioning report for large speculators.
* Net positioning increased from 99k short to 102k short - an increase of 3000 contracts
* EUR/USD has been consolidating in recent weeks, but CFTC data shows that this did not prevent speculators from adding to their bearish bets on the currency
* Euro bears see the currency coming under pressure amid weak economic data and a dovish ECB
* However, a cautious Federal Reserve slowed down the USD rally and kept EUR/USD in a 1.12-1.15 range in the last 3 months
* Net positioning stands at 7k short vs. 10k short in the previous week
* Speculators continue to stand on the sidelines as there is little clarity about how the UK will the European Union
* The deadline has been extended until October 2019, but the uncertainty persists and investors are concerned that this might hurt UK business and consumer confidence further
* Speculators added to their JPY short positions - bringing the net positioning to 72k short (vs. 63k short in the previous week)
* Renewed risk appetite and rising equity markets brought the Japanese Yen under pressure
* AUD net positioning came in at 54k short vs. 56k short in the previous week
* CAD net positioning remained almost unchanged at 43k short
* NZD net positioning little changed at 1k (flat in the previous week)
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Notable reactions show earnings still count; Markets higher in line with stimulus-before-election theme as stocks ebb & flow on the unwind and rotation swivel
A less chaotic debate but no new news, oil shift to the path of least resistance, investors fight the buy now or later mind games before boarding cash boats