Additionally, with the Bank of Canada looking to tighten policy, this has been another factor for speculators piling into the Loonie. That being said, with my view that the bar has been set high for the Bank to surprise on the hawkish side, the risk is geared towards a disappointment even in the event of a hike given the current market pricing and thus this leaves the Pound vulnerable to a pullback.Īcross the commodity-linked currencies, Canadian Dollar buying picked up notably as rising oil prices continued to lend support. In turn, as we near the pivotal November 4th rate decision, it is likely that speculators will add to GBP longs. This had largely stemmed from real-money buying (+$2.4bln) with investors gearing up for an earlier than expected rate hike from the Bank of England. However, this appears to be more of an adjustment in positioning as opposed to the beginning of a trend lower.Įlsewhere, the Pound flipped to net long for the first time in a month. This is largely in fitting with the price action, which has seen the greenback pullback from its YTD high. In the reporting week to October 19 th, net USD longs slipped for a second consecutive week. USD Sold, GBP/USD Flips Net Long & CAD Buying Boosted – COT Report US Dollar, GBP/USD, USD/CAD COT Report –Analysis
#USD CAD UPDATE#
Get your $USDJPY market update from here: USD/JPY gives back the advance from the start of the week amid the recent weakness in longer-dated US Treasury yields.Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule:.Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule:.The Japanese Yen may yet stage a counter-offensive with the broader USD/JPY rally vulnerable while below 115 near-term.RT NEWS, as just reported on Bank reporting proposal officially nixed from the $1.5T spending package after oppositio….
#USD CAD FULL#
See the summary chart below and full details and charts on DailyFX:
0 kommentar(er)
