Instrument | View | Target | Level Today | COT Report | View | Date |
USD/JPY | Since the Frenc election has passed investors have started to unwind their Japanese Yen Positions which has given it a huge boost. we believe the momentum will keep going all the way to the 112 level before turning around | 112 | 111 | Reduced short positions heavily | BUllish | 4/25/17 |
AUD/USD | Inflation for Australia came out higher than normal and inside of the RBA's target bands. Usually, this would be good news but the labor market slack and weak economic growth will impede on the RBA increasing interest rates. Therefore higher inflation reduced the spending power of the currency which could cause it to get weaker. | 0.749 | 0.7514 | Speculators still hold a lot of long positions for the currency | Bearish | 4/25/17 |
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