USD net shorts increased, CAD longs added further – Goldman Sachs

According to the IMM data for week ending on August 1, 2017, USD net shorts increased for the sixth consecutive report, rising $1.4bn to $11.1bn overall, notes the analysis team at Goldman Sachs.

Key Quotes

“Most of the positioning moves this week are a continuation of last week. CAD once again saw the biggest move, with CAD net longs adding another $1.1bn. This is the ninth consecutive increase in CAD net long positioning, and in that time our CAD Sentiment Index has risen from 0 to 100, meaning that CAD Sentiment has gone from a three-year low to a three-year high. GBP net shorts increased by $0.3bn this week, JPY net shorts fell another $0.9bn, and AUD net longs again rose $0.4bn.”

“The main difference in this report is EUR net longs pulled back by $1.0bn. This is the first time in five weeks that EUR net long positioning has fallen and only the second time since April. However, at $12.2bn, EUR net longs remain very high, as do net longs in CAD, AUD, and MXN, all of which are at three-year highs.”