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Speculators Cut Pound Short Positions, Increase Bets Against Euro

By Axi (Milan Cutkovic)ForexOct 22, 2018 13:54
au.investing.com/analysis/speculators-cut-pound-short-positions-increase-bets-against-euro-200199138
Speculators Cut Pound Short Positions, Increase Bets Against Euro
By Axi (Milan Cutkovic)   |  Oct 22, 2018 13:54
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EUR/USD
-0.16%
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GBP/USD
+0.22%
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-0.36%
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Originally published by AxiTrader

The latest CFTC positioning report showed minor changes in speculative FX positioning. Speculators continue to have a bullish outlook on the US dollar, although bets against the British pound have decreased.

Euro net positioning stood at 29k short - an increase of 13k compared to the previous week. On-going concerns about Italy and rising rate expectations in the USA are keeping the euro under pressure, and the break below 1.15 support led to further selling from momentum traders.


Meanwhile, speculators reduced their pound short exposure by 11,000 contracts, bringing net positioning to 50k short.


Yen net positioning stood at 101k, a decline of 14,000 contracts compared to the previous week.


Commodity FX positioning:

- Australian dollar short 71k vs short 73k previously

- Canadian dollar short 11k vs short 12k previously

- New Zealand dollar short 35k vs short 34k previously


Speculators Cut Pound Short Positions, Increase Bets Against Euro
 

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Speculators Cut Pound Short Positions, Increase Bets Against Euro

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