We focus on emerging developments in GBP/USD GBPUSD and USDCAD positioning among futures speculators as GBP shorts vs. USD fell to 29,281 contracts last week (from 36,045) -- the least negative in more than seven weeks, while net shorts in CAD vs. USD fell to an 11-week low of 27,051 contracts (from 30,578). Full charts and analysis.
The week ahead features Q1 GDP and the FOMC decision, two events widely expected to weigh on the USD dollar but if we look beyond the story begins to improve. Markets open the week relatively unchanged. CFTC positioning showed a small squeeze on dollar longs and a retreat of yen shorts. Our Premium EURUSD long at 1.0605 hit its final 1.0880 target on Friday. Other Premium trades: NZDUSD, GBPAUD, EURGBP and GBPUSD are currently in progress.Read More...
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