FXNEWS24 |US Greenback Correction, GBP/USD Flips to Brief, AUD/USD Longs Halved

US Greenback, EUR/USD, USD/JPY, COT Report –EvaluationUS Greenback Brief Squeeze UnderwayGBP/USD Flips to Web BriefAUD/USD Longs

US Greenback, EUR/USD, USD/JPY, COT Report –Evaluation

US Greenback Brief Squeeze Underway
GBP/USD Flips to Web Brief
AUD/USD Longs Halved, Remaining Longs Weak to Dovish RBA Shock

The Predictive Energy of the COT Report

Methods to Learn the CFTC Report

Supply: CFTC, DailyFX (Covers as much as September 29th, launched October 2nd)

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US Greenback Correction, GBP/USD Flips to Brief, AUD Longs Halved – COT Report

Within the week to September 29th, given the corrective bounce within the US Greenback, bearish positioning had been reduce by $3.2bln in opposition to G10 currencies. That stated, whereas total quick positioning within the dollar stays giant, as world macro uncertainties rise in relation to the US election in addition to second wave issues and subsequent renewed lockdown measures, safe-haven flows will underpin the dollar, thus permitting for an extra squeeze in USD shorts.

Speculators flipped to web quick within the Pound following a $1.26bln discount in web longs, accounting for roughly a 3rd of the positioning change within the US Greenback. Each the EU and UK have but to make sufficient headway to resolve vital variations in key areas equivalent to fisheries and state assist. Nonetheless, with the markets remaining hopeful {that a} Brexit settlement could be reached, this has prevented a free-fall within the Pound. That stated, as funds start to shed their web longs, the Pound is prone to stay erratic with headline threat heightened.

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Lengthy publicity within the Australian Greenback had been halved after hitting over a 2yr peak. Nonetheless, as uncertainty tracks greater, with the market nonetheless lengthy Aussie, the high-beta forex stays susceptible to pullbacks. Alongside this, near-term issues additionally centre across the RBA price choice, the place there may be an outdoor likelihood of a dovish shock with a 15bps reduce within the money price goal, alongside this 3yr yield curve goal and Time period Funding Facility.