The report highlights a focus on upcoming US payrolls data and the ECB Sintra conference amid month-end rebalancing. The author maintains a cautious stance on USD strength while tactically adjusting positions in EUR, GBP, and NOK.
Key Takeaways
- 1.Positioning monitor highlights largest demand for USD topside in two years.
- 2.The ECB Sintra conference is a primary focus for central bank policy, though expectations for hawkishness have retracted.
- 3.Oil price weakness influences CAD and NOK outlooks, with a tactical short established on EURNOK.
Table of Contents
- FUR
- JPY
- CHF
- AUD
- NZD
- CAD
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Authors
Laoise Ni Thighearnaigh
Securities
USDJPYUSDCHF
Themes
Central Bank PolicyMonth-End RebalancingOil Price Impact
Regions
Asia PacificEuropeUnited StatesJapanNorway