USD longs slipped, EUR shorts dropped – Rabobank

Rabobank analysts note that according to the latest CFTC Commitment of Traders Report, USD net longs slipped for a third consecutive week.

Key Quotes

“The Fed’s action to relieve pressure in the US money market may have has some psychological impact in lessening demand for USDs.”

“Net EUR short positions dropped sharply to their lowest levels since early September.”

“Net short GBP positions dropped back for a sixth consecutive week to their lowest level since June.”

“JPY net positions held in negative ground for a second consecutive week.”

“Latest data show CHF net shorts falling moderately but remaining broadly stable.”

“CAD net long positions surged higher last week. Robust jobs data has strengthened the case for steady rates from the BoC going forward.”

“AUD net shorts fell last week. The AUD’s role as a proxy for confidence in China suggests that US/China trade talks are providing direction.”