Originally published by AxiTrader
The latest report from the CFTC showed that large speculators continue to add to their US dollar long positions.
Euro net positioning stood at 34k, a 2k decrease compared to the previous week. Euro bulls have given up, amid an increase of political uncertainties and declining rate expectations. However, the important 1.15 support level remains intact, giving them some hope.
Speculators added to pound short positions, bringing net positioning to 22k vs 19k previously. With the on-going concerns about the slow Brexit negotiations, the pressure on the pound could increase in the near-term.
Yen net positioning decreased from 36k short to 34k short. Meanwhile, Swiss franc short positioning increased from 32k to 38k.
There were some notable positioning changes in the commodity currencies. Australian dollar short positions were reduced - bringing net positioning from 43k to 41k short. Speculators increased their bearish bets on the Canadian dollar - with net positioning now at 33k vs 14k previously.
