Created
: 2024.09.30
2024.09.30 20:16
US Dollar (USD) net long positions have fallen further after the previous week's plunge. Euro (EUR) net long positions have moved higher, driven by an increase in long positions. Pound Sterling (GBP_ net long positions have regained some ground, driven by a jump in long positions, and Japanese Yen (JPY) net long positions have increased for the sixth consecutive week to their highest level since 2016, driven by an increase in long positions, Rabobank's FX analysts Jane Foley and Molly Schwartz note.
"USD net long positions have fallen further after the previous week's plunge. Net longs are now at their lowest level since April following the decision by the Fed to cut rates by 50 bps at September's FOMC meeting. Further rate cuts are expected before the end of the year, with another 50 bp move being touted by some commentators."
"EUR net long positions have moved higher, driven by an increase in long positions. That said, in recent sessions speculation has increased that the ECB could bring forward expected rate cuts on the back of weak PMI data in Germany and France and softening inflation data in various Eurozone countries."
"GBP net long positions have regained some ground, driven by a jump in long positions. GBP remains the best performing G10 currency in the year-to-date. JPY net long positions have increased for the sixth consecutive week to their highest level since 2016, driven by an increase in long positions. The JPY suffered further volatility on the back of the LDP leadership election and rallied with the announcement that Ishiba had won."
Created
: 2024.09.30
Last updated
: 2024.09.30
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy