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USD stretched lower, short EUR pushed higher

According to the position of the CFTC in the area of ​​net speculators, which occurred on April 23, 2019, the USD decreased for the second consecutive week, but remained substantially consolidated.

Key Quotes

“After falling in November / December in response to a more peasant outlook for the FED, the US has long and long been consolidating. Another lower leg appeared in mid-March. "

"Short EUR positions have shifted to the highest level since December 2016. Shorts have been evolving since the beginning of the year, reflecting a loss of confidence in the euro area economy's outlook and expectations of more ECB dove."

"Not surprisingly, given the pressure on the GBP on the spot market last Tuesday, net positions have fallen to a negative level when they spent only one week above zero."

"Net JPY short positions continued to increase, suggesting an improvement in risk appetite."

"The net shorts of CHF grew the third consecutive week in line with the trend that has existed since mid-January – not too different from the JPY move."

"The clean CAD shorts have dropped after a sharp increase in the previous week following the pigeon headlines that accompanied the BoC policy meeting. Oil prices are also in sight. "

"The net AUD shorts rose again, reflecting the holubic consequences of the softer-than-expected CPI inflation figures in Australia."

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