EUR shorts increased, USD longs remain consolidative - Rabobank

According to IMM net speculators’ positioning as at October 9, 2018, USD speculators’ long positions have since remained essentially consolidative at relatively high levels. 

Key Quotes

“Last week’s sell off in the USD in the spot market could be reflected in the next set of data. The spot move is likely to have been fed by overbought positioning.”

“Short EUR positions increased further last week to their greatest level since April 2017.”

“Although fairly steady last week, GBP shorts have been choppy in the past couple of months, reflecting uncertainty regarding Brexit and the UK political backdrop.”

“Net JPY short positions edged up further having powered higher the previous week to their highest level since January.”

“CHF net shorts have dropped back for seven consecutive weeks.”

“CAD shorts have lessened further likely in response to the news of a revised trade agreement with the US.”

“AUD shorts increased again to their greatest level since March 2015.”