USD longs crept higher, EUR shorts increased – Rabobank

According to IMM net speculators’ positioning as at October 30, 2018, after having popped higher in the middle of September, USD speculators’ long positions have not moved aggressively since, points out the research team at Rabobank.

Key Quotes

“USD long positions have crept higher for five consecutive weeks.”

“Short EUR positions increased for a fifth week and are at their greatest level since March 2017.”

“GBP shorts increased having dropped back the previous week.”

“Net JPY short positions dropped back for a third consecutive week having reached their highest level since January last month.”

“CHF net shorts edged lower reverting to the trend that has dominated since August.”

“CAD shorts increased, breaking the trend of the previous five weeks. Although the recent revised trade agreement with the US and a BoC rate hike are positive factors, weaker oil prices have weighed.”

“AUD shorts consolidated having moved to their greatest level since March 2015 earlier in the month. Concerns about Chinese growth and a dovish central bank have weighed on risk appetite.”