Net long US Dollar (USD) positions have declined for the second week in a row. Net short Euro (EUR) positions have increased, driven by a decline in long positions. Net long British Pound (GBP) positions have increased and net long Mexican Peso (MXN) positions have increased for the second week in a row, according to the team at Rabobank.
MXN net long positions show significant increase
“Net long USD positions have declined for the second consecutive week, driven by an increase in short positions as hopes for a Fed rate cut in September strengthen. On June 27, first quarter personal consumption was revised down from 2.0% to 1.5% and continuing jobless claims hit their highest level since November 2021.”
“The EUR net short positions have increaseddriven by a decline in long positions. Eurozone CPI inflation for June came in in line with expectations at 0.2% m/m, while the unemployment rate in May remained stable at 6.4%. The results of the first round of voting in the French parliamentary elections hinted at a right-wing victory.
“The MXN net long positions have increased for the second consecutive weekdriven by an increase in long positions. Banco de México published its decision to maintain the overnight interest rate at 11.00% in a split decision of 4-1.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
