Created
: 2024.11.04
2024.11.04 19:57
The US Dollar (USD) net long positions have increased. EUR net short positions have increased. GBP net long positions have decreased for the fourth week in a row and JPY positions turned net short for the first time in 11 weeks, Rabobank's FX analysts Jane Foley and Molly Schwartz note.
"USD net long positions have increased, driven by an increase in long positions. USD was the strongest performing G10 currency in October, but its strength ebbed late last week. October NFP registered well-below expectations at only 12k payrolls on Friday, November 1st. This upcoming week is the US presidential election on Tuesday and the FOMC rate cut decision on Thursday. The market is pricing in a 25bp cut."
"EUR net short positions have increased, driven by an increase in short positions. That said, Eurozone aggregate CPI inflation registered a slightly firmer than expected 2.0% y/y last week. This knocked expectations that the ECB would cut rates by a 'large' 50 bps in December."
"GBP net long positions have decreased for the fourth week in a row, driven by a decrease in long positions. The market is pricing in 79% of a 25bp cut at the November 7th BoE meeting. JPY positions turned net short for the first time in 11 weeks, driven by an increase in short positions. CPI inflation registered in line with expectations at 1.8% y/y. JPY has been the worst performing G10 currency year-to-date and the worst performing G10 currency in October."
Created
: 2024.11.04
Last updated
: 2024.11.04
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