US Greenback, GBP/USD, USD/CAD, COT Report –AnalysisUS Greenback Flips Web LengthyCAD,AUD, GBP Bought on Threat DiscountUS Greenback Flips Web Len
US Greenback, GBP/USD, USD/CAD, COT Report –Analysis
- US Greenback Flips Web Lengthy
- CAD,AUD, GBP Bought on Threat Discount
US Greenback Flips Web Lengthy, CAD, AUD & GBP See Massive Sellers
In the latest CFTC report, sentiment within the USD has flipped web lengthy for the primary time since March 2020. The shift had arguably been a very long time coming, given numerous reflation trades had peaked within the months prior whereas a hawkish Federal Reserve had additionally aided the upside within the dollar. The previous week noticed a wave of USD shopping for ($4.4bln) in response to the deterioration in danger sentiment with the majority of the transfer in opposition to the Euro.
Throughout the commodity currencies, the Canadian Greenback had been hardest hit with web lengthy positioning halved, prompting USD/CAD to tag the 1.2800 deal with. That being stated, with positioning not stretched, the CAD is starting to look extra engaging from a price standpoint. Elsewhere, the Aussie had additionally come beneath strain with one other $500mln added to web shorts. Though, with lockdown and Delta virus considerations effectively priced into the forex, prospects for the Aussie might begin to enhance with the upcoming CPI knowledge maybe the catalyst to spark some life into the forex. Nonetheless, I’m cognisant of the current turbulence throughout Chinese language markets which have capped upside within the Aussie.
Elsewhere, the Pound had been one other forex to really feel the brunt of a discount in danger markets, piercing its 200DMA having flipped web quick. Though, with positioning no longer a difficulty and with the unfold of the Delta variant beginning to make a flip for the higher, my view on the forex is on the constructive facet as we head into the BoE assembly.
Weekly FX Positioning
Supply: CFTC, DailyFX (Covers as much as July 20th, launched July 23rd)
The Analytical Skills of the COT Report
Find out how to Learn the CFTC Report
US Greenback Positioning
Supply: Refinitiv, DailyFX
GBP/USD Positioning
Supply: Refinitiv, DailyFX
USD/CAD Positioning
Supply: Refinitiv, DailyFX
If you need to obtain the total COT FX breakdown, contact IG.
factor contained in the
factor. That is most likely not what you meant to do!Load your software’s JavaScript bundle contained in the factor as an alternative.
www.dailyfx.com