Strong dollar not emerging in positioning data – ING


The dollar’s appreciation in November still hasn’t emerged in CFTC FX positioning data that continues to show most G10 currencies’ net positions rising against USD, explains Francesco Pesole – FX Strategist at ING.

Key Quotes:

“November has so far been a month dominated by a strengthening of the dollar across the board, but this has however not translated into a rise in USD net positioning as reported by the CFTC. USD net aggregate positioning versus reported G10 currencies (i.e. G9 excluding NOK and SEK) 
was unchanged in the last weeks of October and the first week of November, and then inched lower (now at +9.8% of open interest) in the week ending 16 November.”

“The surprise increase in USD net shorts was largely due to the jump in JPY, CAD and AUD net longs, which more than offset the slight decrease in EUR net positioning and the drop in GBP net positioning.”

“It is not uncommon to see CFTC FX positioning lag the moves in the spot market, and we can reasonably expect an increase in USD net-longs across the board in the next CFTC COT report.”

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD tests 1.0700 as Trump declares victory

EUR/USD tests 1.0700 as Trump declares victory

EUR/USD stays under strong bearish pressure and trades near 1.0700, losing over 2% on the day. The US Dollar rallies as Republican nominee Donald Trump becomes the 47th president of the US after winning key swing states, weighing heavily on the pair. 

EUR/USD News
GBP/USD slums toward 1.2850 as Trump win boosts USD

GBP/USD slums toward 1.2850 as Trump win boosts USD

GBP/USD stays on the back foot and drops toward 1.2850 following a short-lasting recovery attempt. The US Dollar outperforms its rivals and doesn't allow the pair to gain traction as Donald Trump completes his political comeback, winning the presidential election.

GBP/USD News
Gold drops below $2,700, US yields surge higher as Trump claims victory

Gold drops below $2,700, US yields surge higher as Trump claims victory

Gold extends it slide and trades at a fresh multi-week low below $2,700 as markets react to Donald Trump's victory in the presidential election. The benchmark 10-year US Treasury bond yield rises more than 4% on the day, forcing XAU/USD to stretch lower.

Gold News
Bitcoin breaks all-time high of $73,777 as Trump takes the lead

Bitcoin breaks all-time high of $73,777 as Trump takes the lead

Bitcoin breaks above its all-time high of $73,777 on Wednesday, buoyed by Donald Trump's poll lead. At the same time, Ethereum is nearing its key resistance level, with a strong close above it, potentially signaling upward momentum. Meanwhile, Ripple finds support around its daily level.

Read more
Trump wins: Tax cuts come with a cost

Trump wins: Tax cuts come with a cost

Donald Trump’s victory will ensure a lower tax environment that should boost sentiment and spending in the near term. However, promised tariffs, immigration controls and higher borrowing costs will increasingly become headwinds through his presidential term.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures