Archives of “April 25, 2021” day

rss

US will urge its allies to increase pressure on China over Xinjiang at G7 meeting in June

  
  Analysis

US President Joe Biden will attend the G7 meeting in June in the UK.

A White House official says at the meeting the US will urge its allies to increase pressure on China over the use of forced labor in its northwestern Xinjiang province. Said also the meeting will focus on
  • health security
  • a synchronized economic response to the COVID-19 pandemic
  • concrete actions on climate change
  • elevating shared democratic values within the G7
Its the China issue that is likely to be a focus come Monday FX markets. I don’t think it’ll have too much of an impact but we might get an early risk-off wobble on this.
Via Reuters, more there if you are interested.
US President Joe Biden will attend the G7 meeting in June in the UK. 

CFTC commitment of traders: Mixed changes for currency positions

  
Analysis, Forex

Weekly forex futures positioning data for the CFTC for the week ending April 20, 2021

  • EUR long 81K vs 67K long last week. Longs increased by at 14 K
  • GBP long 25K vs 26K long last week. Longs decrease by 1K
  • JPY short 60K vs 58K short last week. Shorts increased by 2K
  • CHF short 2K vs 1K long last week. Shorts increased by 3K
  • AUD short 2K vs 4K long last week. Shorts increased by 6K.
  • NZD long 4K vs 3K long last week. Longs increased by 1K
  • CAD long 13K vs 2K long last week. Longs increased by 11K
  • Last weeks report
Highlights:
  • Both the CHF and AUD switched from net long to net short (long USD). They joined the JPY as currencies that are short vs long dollar positions
  • The EUR long had the largest increase with a gain of 14K
  • CAD longs increased as well BEFORE the Bank of Canada more hawkish rate decision on Wednesday.
Go to top