US Dollar Forecast Dim on Currency Trading Crowd Sentiment
Currency trading crowds remain heavily net-long the US Dollar against the Euro, British Pound, Japanese Yen, Swiss Franc, and Canadian Dollar—giving contrarian signal to sell into USD weakness. Our Speculative Sentiment Index has shown traders have remained net-long the US currency for quite some time now. All the while, futures positioning has shown Non-Commercial traders—typically large speculators—continue to sell into USD weakness. The combination leaves little hope that the US Dollar could stage a major turnaround through upcoming trade, and indeed we are left with little choice but to call for continued USD weakness.
View individual currency SSI charts in our FX Sentiment section.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.