According to the positioning of the IMC's CFT liquid speculators on April 23, 2019, the USD looks forward to a smaller second consecutive week, but remains essentially consolidated.
"Having fallen lower in the November / December period in response to a more dovish outlook for the Fed, the USD longs then consolidated over a long period. Another minor leg occurred in mid-March. "
"Short euro positions have risen to their highest levels since December 2016. Shorts have been bullish since the beginning of the year, reflecting the loss of confidence in the outlook for the euro zone economy and the expectations of a BCE more dovish. "
"Not surprisingly, given the pressure on the GBP on the spot market on Tuesday, net positions again fell into negative territory, having gone just over a week above zero."
"JPY net short positions continued to rise, suggesting an improvement in risk appetite."
"CHF liquid shorts have increased for the third consecutive week, in line with the trend since mid-January – not unlike the JPY movement."
"CAD's net shorts declined after the previous week's outbreak following the dovish headlines that accompanied BoC's policy meeting. Oil prices are also in sight. "
"The AUD short-term rose again, reflecting the dovish implications of the Australian Q1 CPI inflation data softer than expected."