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of clients are net short.
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of clients are net short.
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of clients are net short.
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of clients are net short.
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Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • - "Don't take me literally, but it would be nice to move in tandem with the Fed" - US and Euro economy are not on the same page so this is not a possibility
  • - There is no "normal pace" of PEPP purchases
  • - Governing Council did not discuss any phasing out of PEPP - Premature to discuss tapering - Any determination of PEPP purchases is data dependent
  • - Ambitious and coordinated fiscal stance remains crucial - National fiscal policies should address vulnerabilities effectively and be temporary and targeted - Next Gen EU plan must be made operational without delay
  • - Risks to medium-term outlook are more balanced - Recovery to be driven by both domestic and global demand - Headline inflation likely to increase in coming months based on temporary factors - Temporary factors should fade out of inflation readouts by early 2022
  • - Euro-area economy may have contracted again in Q1 2021 - Data points to a resumption of growth in Q2 - Progress on vaccines should pave the way for a firm rebound in activity in 2021
  • - ECB is monitoring developments in FX rate on inflation outlook - Standing ready to adjust all instruments as appropriate to support inflation goals
  • - Financing conditions have been broadly stable recently - Risks to wider financing conditions remain despite stabilization of market rates - Will continue with PEPP purchases until at least the end of March 2022
  • - Expect a firm rebound in activity later in year - Underlying price pressures remain subdued - Preserving favorable financing conditions is essential
  • ECB's Lagarde: - Near term outlook is clouded - Persistently high rates of Covid and associated containment measures continue to constrain activity in the near term #ECB $EUR
GBP Coming off the Rails but Beware another Record Short Position

GBP Coming off the Rails but Beware another Record Short Position

Jamie Saettele, CMT, Sr. Technical Strategist
  • Record British Pound ownership profile…again
  • Small MXN traders on verge of a net long position
  • Silver speculators sell 2nd week

19th century cotton speculator Dickson Watts said 'go cautiously with the crowd and boldly against'. Those words are appropriate given the record speculative short position in the British Pound.

For more analysis and trade setups, visit SB Trade Desk

Subscribe to Jamie Saettele's distribution list in order to receive several free reports per week

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.

Latest CFTC Release dated August 9, 2016

Week (Data for Tuesdays)

52 week Percentile

US Dollar

29

Euro

33

British Pound

0

Australian Dollar

90

Japanese Yen

65

Canadian Dollar

77

Swiss Franc

55

Mexican Peso

43

Gold

88

Silver

94

Copper

84

Crude

57

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

US Dollar ICEUS Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

British Pound CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Australian DollarCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Japanese YenCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Canadian DollarCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Swiss Franc CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Mexican Peso CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Gold COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Silver COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Copper COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Crude Oil NYMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Jamie is the author of Sentiment in the Forex Market and co-founder of SB Trade Desk.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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