CFTC Positioning Report: Aussie net shorts climbed to multi-month highs

These are the main highlights of the CFTC report for the week ended on May 21.

• Speculators increased their net shorts in AUD to the highest level since early November 2018, always on the back of persistent jitters around the US-China trade dispute and rising speculations of a rate cut by the RBA in H2 2019.
• GBP net shorts moved higher to levels last seen in March 12 following the lack of solution around Brexit and increasing uncertainty around the UK government.
•  EUR net shorts climbed to 2-week highs amidst rising speculations on the EU parliamentary elections and poor data releases, which confirmed the slowdown in the region and the neutral/dovish stance from the ECB.
• Of note is the move in the safe haven JPY, where speculators trimmed their net short positions to the lowest level since March 5 on the back of US-China trade fears and the consequent inflows into safe havens.