Thread by @Francesc_Forex

Rabobank 1/8: #CFTC #CommitmentofTraders Report:
Net #USD short positions were little changed last week though a modest increase was recorded. Net shorts remain near recent highs and are therefore not reflecting this year’s improved performance of the USD in the spot market.

Rabobank 2/8: Focus is on the size of the Biden fiscal giveaway and the relative success of vaccine roll-out programmes. Rising inflation expectations appear out of kilter with the Fed’s very cautious tone.
#EUR net longs dropped back sharply. In spot market it appears that

Rabobank 3/8: the EUR is being undermined by the slow vaccine roll-out programme in the EU. This is supporting talk that the region could fall behind in the reflation trade.
Net #GBP long positions edged higher but remain below recent highs.

Rabobank 4/8: Optimists are hoping that the UK’s relatively rapid vaccine roll-out will support recovery in economy this year. The next set of positioning data could be lifted by the perception that #BoE was taken to be a little more hawkish than expected at Feb policy meeting.

Rabobank 5/8: #JPY net long positions consolidated after their recent drop from their highest levels since October 2016. The reflation trade could be weighing on the JPY given the move higher in US yields.

Rabobank 6/8: #CHF net long positions moved higher for a second consecutive week and remain well supported compared with pre-2020 averages. Fears related to the pandemic in Europe have lent support. The decline in Italian political fears could be reflected in the next set of data

Rabobank 7/8: #CAD net long positions have pushed higher for a second consecutive week. Higher oil prices are supportive. Also, steady policy from the #BoC last month should weigh against further talk of a micro rate cut for now.

Rabobank 8/8: Net #AUD positions dropped back into negative territory. The extension of the #RBA’s QE policy is likely to weigh as could China/Australian trade tensions.