AUD & GBP longs increase - ING

Analysts at ING point out that both AUD and GBP net long positioning increased on the week, registering a bullish signal in their weekly sentiment indicator.

Key Quotes

“NZD longs were pared amid election uncertainty, while EUR and CAD positions are normalising as the positive impulse from central bank policy shifts shows signs of fading.”

“USD positioning overall remains net short and close to 5-year lows; constructive tax reform talk this week - while not our base case - could be a reason for some of these short positions to unwind.”