Euro Outlook: Signs of Fatigue Appear Ahead of Next Week's ECB Meeting
The euro has shown signs of fatigue ahead of next week’s ECB meeting as institutional shorts pick up, attempting to narrow the gap
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The euro has shown signs of fatigue ahead of next week’s ECB meeting as institutional shorts pick up, attempting to narrow the gap
A surge in the price of cocoa gathered further pace yesterday with prices rising to a fresh record in New York on mounting fears about supply shortages.
Upon comparing the Positioning for the Euro to JPY on the most recent commitment of the trader’s report, we can see that large speculators’ Euro net positioning continues to move down towards the short from its extreme long positions. On the other hand, the same group’s positioning on JPY is very close to the extreme short level, suggesting a potential change in sentiment.
Market expectations still eye a potential rate hike from the Bank of Japan as soon as April and fully price one in by June. This is despite Japan dropping into recession
Upon comparing Positioning for Euro to JPY on the most recent COT report, we can see large speculators' Euro positioning continues to move.