CFTC report: EUR net shorts gathered further traction

These are the main highlights of the CFTC report for the week ended on March 5.

• Investors added further contracts to their EUR net shorts, extending the build observed since the start of the year to levels last recorded in mid-December 2016, coincident at the same time with the drop in EUR/USD from January peaks beyond 1.1500 the figure.
• Regarding the greenback, net longs climbed to multi-week highs backed by the recent upbeat results from the US docket and diminishing speculations over a ‘no-hike’ by the Federal Reserve this year, somehow reverting the sentiment that prevailed in late December/early start of 2019.
• GBP net shorts decreased to 4-week lows reflecting yet some optimism around the Brexit negotiations and the likelihood of a deal.