US Dollar (USD) net long positions have decreased for the first time in six weeks, Euro (EUR) positions have become net short for the first time in 7 weeks, and British Pound (GBP) net long positions have decreased for the second consecutive week, say FX analysts at Rabobank.
EUR turns net short, USD and GBP lose longs
“USD net long positions have declined for the first time in six weeks, driven by an increase in short positions. On June 27, US personal consumption for the first quarter was revised down 2.0% to 1.5% and continuing jobless claims recorded their highest level since November 2021. On June 28, the US PCE printed in line with expectations, recording 0.0% m/m and 0.3% y/y “
“EUR positions have become net short for the first time in 7 weeks, driven by an increase in short positions. Investors are eagerly awaiting the French parliamentary elections on June 30.”
“Net long GBP positions have declined for the second week in a row, driven by a decline in long positions. The BoE released its decision to hold the bank rate at 5.25% as unanimously anticipated by economists surveyed by Bloomberg. However, some policymakers said its decision was very balanced.”
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.
