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US Greenback Longs Slashed, GBP/USD Shorts Diminished Sharply, CAD Reversal Persists – COT Report

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US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

Supply: CFTC, DailyFX (Covers as much as December 17th, launched December 20th)

US Greenback Longs Slashed, GBP/USD Shorts Diminished Sharply, CAD Reversal Persists – COT Report

Within the week as much as December 17th, CFTC knowledge highlighted that speculators cutback on their bullish bets within the US Greenback by $2.78bln in opposition to G10 currencies to $18.7bln. Consequently, lengthy positioning within the dollar is on the lowest since mid-November.

The pullback in USD longs had largely stemmed from positioning adjustments in GBP, NZD and CHF, which all noticed internet shorts slashed by over $1bln. Following the UK election, bearish bets within the Pound have been minimize to a 7-month low as buyers proceed to take up contemporary longs with general positioning now flat. Elsewhere, the sharp unwind in NZD internet shorts persists amid a balanced RBNZ price outlook, which in flip has left positioning within the foreign money comparatively impartial. Swiss Franc internet shorts noticed a notable discount; nevertheless, buyers proceed to carry a sizeable bearish wager within the foreign money.

On condition that the home outlook continues to weigh on the Australian Greenback, sentiment stays weak with buyers boosting their internet shorts within the foreign money amid a liquidation in gross longs. Elsewhere, CAD bulls proceed to reverse course with general longs minimize by $717mln to $851mln.

CFTC FX G10 RANGES AND AVERAGES

US Greenback

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

EUR/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

GBP/USD

Please add a description for the image.US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/JPY

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/CHF

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/CAD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

AUD/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

NZD/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

For a extra in-depth evaluation on FX, try the FX Forecast

— Written by Justin McQueen, Market Analyst

To contact Justin, electronic mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX


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