Currency

Weekly COT Report: Sterling Bears Unloaded Shorts Ahead Of UK Election As of Tuesday 10th December: Large speculators reduced net-long exposure to USD by -$1.6 billion to $18.2 billion. On the DXY, traders are their least bullish since July 2018 Minor weekly changes to net positioning overall. GBP saw the largest, with short exposure falling -7.4k […]

Like him or loathe him, Boris Johnson is on track for the biggest election win since Margaret Thatcher, which is some feat given how polarised the Brexit debate has always been.   British Pound traded broadly higher, with six out of the seven GBP pairs rallying over 2% in a matter of minutes. Volatility was very […]

It’s been a positive week for trade sentiment. Earlier in the week, the USMCA was signed which paves the way for US, Canada and Mexico to move forward on trade. And during the US session, President Trump teased traders with hope of a US -China trade deal by tweeting “Getting VERY close to a BIG […]

The British pound has continued to point both whilst conservative lead in the polls. With their lead narrowing and a defiantly strong British pound, it begs the question as to whether cable’s upside could be limited. This begs the question as to how much upside GBP/USD is capable of after such a stellar run and, […]

In just hours from now, a major event that will set the trend for the currency market for the year 2020, the UK elections will be held. In the face of a Brexit extension, UK prime minister had pushed for an earlier election in the hopes of having a majority conservatives win in the parliament […]

USD/CHF rests on key support ahead of today’s FOC meeting. Yet once we get past the noise, we could see support give way. In an earlier report we flagged that USD/CHF had struggled to close above parity since May, and that we were watching for its potential to roll over back within range. Whilst it teased us near […]

It’s a mixed regarding USD performance overall, yet DXY points towards a near-term trough which could see a lower Euro and higher USD/JPY (at least over the near-term). By Thursday’s close, DXY had produced is sixth consecutive bearish session. Typically, we tend to see a streak ‘snap’ around 3-4 days, so a higher run can […]

Weekly COT Report: Bullish USD Exposure Hits A 6-Week High As of Tuesday 3rd December: Large speculators increased net-long to USD by $19.8 billion, taking it to a 6-week high Net-short exposure to AUD was decreased by 8,9k contracts Traders were their most bearish on yen in 6-months Weekly changes for FX majors were all under […]

BOC Optimism and Firmer WTI Boosts CAD | CAD/JPY, WTI BOC held rates as expected, although their statement was optimistic enough to send the Canadian dollar sharply higher. The statement was indeed one of optimism, although not hawkish as there is clearly no bias to raise rates. But with a relatively high OCR of 1.75%, it […]

RBA Hold Rates, Yet Could ‘Ease’ Their Way Into 2020 In the final meeting of the year, RBA decided to keep rates on hold 0.75%, whilst keeping the door open for further cuts. What made this meeting more interesting was that it followed on from Lowe’s highly anticipated speech last week, title “Unconventional Monetary Policy: […]