Originally published by AxiTrader
The latest data from the CFTC showed that there were no dramatic shifts in FX speculative positoning.
Speculators added to euro long positions - bringing the net positioning from 98k to 91k long. The market still has high expectations for the ECB October meeting, and that should keep the euro bid in the near-term.
Meanwhile, pound net long positioning decreased from 20k to 15k. While recent economic data has been solid, concerns about the political situation in the UK and the Brexit negotiations have brought the pound under renewed pressure.
While the dollar has lost some of its recent momentum, speculators are still bearish on the Japanese yen. Rising stock markets and positive risk sentiment are making the USD/JPY long trade attractive. Short yen positioning has increased from net 85k to 105k.
Canadian dollar and Australian dollar positioning have remained almost unchanged. Speculators added to Canadian dollar longs (from 75k to 76k), while they slightly reduced their Australian dollar longs (69k vs 72k previously).
