USD longs continued to grow modestly, EUR shorts increased - Rabobank

According to IMM net speculators’ positioning as at October 16, 2018, USD speculators’ long positions have since remained essentially consolidative at relatively high levels. That said, long positions continued to grow modestly last week.

Key Quotes

“Short EUR positions increased for a third week to their greatest level since March 2017.”

“GBP shorts were reigned back last week.”

“Net JPY short positions dropped back moderately having reached their highest level since January the previous session.”

“CHF net shorts pushed higher, breaking a trend that persisted for seven consecutive weeks.”

“CAD shorts have lessened for a fourth consecutive week in response to the news of a revised trade agreement with the US and ahead of the forthcoming BoC policy meeting.”

“AUD shorts edged a little lower having moved to their greatest level since March 2015 last week. Concerns about Chinese growth and a slower domestic property market could contribute to a cautious outlook from the RBA.”