Futures forex positioning data for the week ending January 7, 2020:
- EUR short 61K vs 74K short last week. Shorts trimmed by 13K
- GBP long 17K vs 12K long last week. Longs increased by 5K
- JPY short 12K vs 25K short last week. Shorts trimmed by 13k
- CHF short 4K vs 6K short last week. Shorts trimmed by 2K
- AUD short 27k vs 38K short last week. Shorts trimmed by 11K
- NZD short 1K vs 5K short last week. Shorts trimmed by 4K
- CAD long 26k vs 12K long last week. Longs increased by 14K
The theme across the board was less enthusiasm for the dollar. All the dollar longs were trimmed and there are growing longs in CAD and GBP. Is this really the big turn in the dollar? There is certainly some room to run on the speculative side before we get even close.
Here's a look at the GBP net:
