Originally published by AxiTrader
The latest data from the CFTC shows that there have not been any major shifts in speculative forex futures positioning.
Large speculators decreased their euro long positions from net 88k to 87k. The next European Central Bank (ECB) meeting is approaching, and it is likely that speculators will cut some of their euro longs ahead of the key event. The risk that ECB President Draghi will try to talk the euro lower is quite high.
While the dollar remains weak overall, it did not prevent speculators from adding to pound short positions. Net positioning stood at 52k vs 46k short previously. Tough Brexit talks and mixed data are keeping the pound under pressure.
Yen net short positioning fell from 74k to 69k. Renewed geopolitical tensions could lead to further position covering in USD/JPY.
Meanwhile, speculators added to long positions in the Aussie and Canadian dollar. Australian dollar net positioning jumped from 60k to 67k long, while Canadian dollar longs stood at 53k vs 51k previously.
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