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Forex Flash: EUR shorts increased, contrasting with USD longs – Rabobank

The euro remains locked within a narrow range in Monday, hovering over the key level of 1.3000 after second-tier euro docket failed to break the consolidation pattern. This situation is likely to persist ahead in the session, as there are no scheduled events/results in the US.

According to the last CFTC COT report, Currency Strategist Jane Foley at Rabobank argued, “The EUR dropped decidedly out of favour last week. Shorts returned to levels not seen since December ahead of last week’s ECB policy meeting and on the back of continued uncertainty connected with the inconclusive Italian election. By contrast USD longs continued to creep higher and are holding at their best levels since September”. The expert added that last Friday’s NFP results could add to USD longs in this week’s report.

Forex: USD/CHF reaches 0.9500 in slow trade

A very slow moving market has nevertheless reached the 0.9500 psychological level as the European morning ends and prepares to give way to the NY session. Friday's rally peaked at 0.9552 high, but this week's trading has only gone as high as 0.9530.
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Forex: USD/CAD attempts to return to 1.0300

Friday's plunge on stronger than expected employment data in both US and Canada sent the USD/CAD to 1.0234 low and its following bounce wasn't able to reach the 1.0300 line. The cross spent the European morning attempting that but, for now, it has peaked at 1.0294.
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