USD longs edge lower, EUR shorts increased - Rabobank

According to the IMM net speculators’ positioning as at November 27, 2018, USD speculators’ long positions have edged down slightly for the past two weeks.

Key Quotes

“Short EUR positions surged again last week. Although positions have been volatile recently, the underlying trend has been favouring a build-up of shorts.”

“GBP shorts dropped back for a third consecutive week. However, the situation regarding UK politics and Brexit remains highly uncertain. The pound remains driven by headlines regarding Brexit and fear of a crash exit from the EU is ensuring that the GBP is vulnerable.”

“Net JPY short positions have again pushed higher, moving to their largest levels since mid-October.”

“CHF net shorts edged up modestly for a second week, though recent movements have been broadly consolidative.”

“CAD shorts increased for a third consecutive with falling oil prices weighing.”

“AUD shorts dropped. Domestic data have been better than expected.”