USD longs consolidating, EUR shorts surge – Rabobank

Rabobank analysts note that according to the latest CFTC’s data, USD net longs are consolidating, having hit their lowest levels since mid-June in the middle of December.

Key Quotes

“Net EUR short positions have risen to their highest levels since October.”

“Net GBP positions have held in positive ground for two consecutive weeks. This is the longest run for GBP net longs since mid-2018.”

“JPY net positions have held in negative ground for twelve consecutive weeks.”

“CHF net shorts fell back in December. The surge in demand for safe haven assets in early January suggests increased demand for the CHF in the next set of data.”

“CAD net long positions recovered a little ground into the end of last year.”

“AUD net shorts dropped into late December. News of a China/US phase 1 trade deal was supportive.”