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Friday, October 23, 2020
Americas Wrap
CFTC Commitments of Traders: Sterling shorts head to the exits
Forex futures positioning for the week ending October 20, 2020: The GBP shorts were wise to get out of the way ahead of Wednesday's news on restarting negotiations. The nearly-flat positioning now reflects the total lack of commitment in the trade lately.... Read full article
Senator Shelby: Chances for a stimulus deal are 'slim'
Are we ready to move on? Mark Meadows is the only one who has had any kind of real optimism today and there's no sign of any movement on the key hangups of state and local funding along with liability protections. Trump himself today ranted about Democrats wanting too much money for states.... Read full article
Stay short GBP/USD - MUFG
Mitsubishi UFG says to sell cable MUFG Research maintains short GBP/USD exposure as its trade of the week for the coming week. MUFG is short cable with a target at 1.2630 and a stop at 1.3180.... Read full article
US dollar gives back gains as the mood improves
Back and forth we go The US dollar is losing some ground at the moment, particularly against the euro and the commodity currencies. The move comes as equities erase losses and turn higher.... Read full article
What's on the US economic calendar next week
The final stretch before the election Monday we're going to get the Senate confirmation of a Supreme Court justice but at that point it should also be entirely clear that a stimulus bill is dead.... Read full article
The dollar is showing a slight pulse following the London fix. It's been trounced today on several fronts but it's gotten extreme on a few of them; GBP/USD in particular.
Cable hasn't come down much but the good news on Brexit is all out there.
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