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US dollar net long position hit a new high of more than three years. Euro net short position broke through 100,000 hand mark

April 15, 2019 18:10
source: Global Forex

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According to Reuters, speculators have increased their holdings of US dollar net positions in the most recent week, the highest since December 2015.

As of the week of April 9, the net long position of the US dollar was US$33.6 billion. The previous week was $32.3 billion. The net long position of the US dollar increased for the second consecutive week. Chicago InternationalcurrencyThe overall net position calculation for the International Moary Market is based on the net positions of the six major currencies, the Japanese, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.

The broad-based indicators covering the currency positions of the US dollar against the New Zealand dollar, the Mexican peso, the Brazilian real and the Russian ruble show that during the week ending April 9, the net long position of the US dollar was US$28.899 billion, compared with a net long position of 276.8 in the previous week. One hundred million U.S. dollars.

Although the Fed turned to the dovish position in March, the dollar remained firm.AnalystWeighUS economic dataSteady, and the US economy outperforms other major economies such as the Eurozone.

Among the non-US currencies, the euro speculative net position held by speculators increased by 3,014 contracts to 102,198 contracts, and the net short position exceeded the 100,000-hand mark for the first time since the end of 2016.

Analysts pointed out that under the comparison of US and European economic data, the Fed will still raise interest rates again in the first half of 2020, while the European Central Bank may restart the easing measures. This gap makes the US dollar have a stronger chance of strengthening against the euro. .

In addition, speculative holdings of speculative short positions in the pound fell by 3,415 contracts to 6,516 contracts. Last week, the EU agreed to extend the Brexit deadline to June, leaving the pound bulls temporarily out of the air.

However, WestThe Pacific OceanbankIt is pointed out that the United Kingdom and the European Union have reached an agreement to extend the Brexit deadline by half a year, but this will only make the uncertainty last longer. Under this circumstance, the US dollar will remain strong relative to the European currency for a longer period of time.

(Article source: Global Forex Network)

                (Editor: DF134)

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