Positioning Shifts Leaves USD on Neutral Footing versus EUR, AUD, GBP
DailyFX.com -
Talking Points:
- Retail crowd reduces net-long USD position against AUD, EUR, GBP.
- USDJPY positioning still favors further downside in the pair.
- Gold will struggle to rally as crowd remains net-long.
View individual currency sections:
EURUSD – Minor Shift in Crowd Positioning Leaves Euro Outlook Mixed
GBPUSD - British Pound Forecast Neutralized after Big Shift in Positioning
USDJPY – Japanese Yen Remains Favorable versus US Dollar
AUDUSD - Australian Dollar Decline May Be Nearing Short-term Turn
NZDUSD - New Zealand Dollar Losses Forecast to Continue
XAUUSD - Gold Lacks Luster as Positioning Calls for More Losses
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The week before the Federal Reserve meets for its highly anticipated September policy meeting, the retail crowd is already scaling back long US Dollar exposure. Accordingly, our AUDUSD, EURUSD, and GBPUSD forecasts have been neutralized ahead of what should be a tense week in the run up to the September 17 meeting.
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--- Written by Christopher Vecchio, Currency Strategist
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