- USD longs fell for the third consecutive week as investors re-positioned for a later first Fed rate hike. Although net positioning is still firmly in long territory, USD net longs are at their lowest level since December of last year.
- EUR shorts pared back further, though they remain at fairly elevated levels. Better economic data in the Eurozone is supportive, though Greek concerns remain a drag on the EUR.
- GBP net shorts dropped just ahead of the UK general election last week. News that the right leaning Conservative party have managed to win a majority is likely to lend further support to GBP.
- JPY shorts increased markedly. Talk of a summer rate cut from the BoJ remains in light of slow Japanese growth and inflation data.
- CHF net positions have held just above zero for six consecutive weeks with Grexit uncertainty likely a factor.
- AUD positions jumped sharply back into positive territory on talk that the RBA’s easing cycle may be over.
- CAD net shorts decreased further as rebounding oil prices support the currency.
The material has been provided by InstaForex Company – www.instaforex.com