FX positioning reports latest updates
The start of the week brings lots of interesting research from the major banks (which I’m sure you all love reading in the FXWW chatroom on Eikon Messenger!).
There have been some short term changes over the last 3 weeks with AUD positioning back to neutral, CAD longs reduced and GBP longs starting to build. CHF and JPY shorts are also building albeit slowly and from neutral levels. The markets core positions of long USD and very short NZD still remain intact.
There are no major discernible changes underway and it looks as if the market is fairly comfortable and looking for the next impetus.
NZD/USD: Range trade with a bullish bias.
GBP/USD: Range trade with a neutral bias.