The CFTC net speculators position report for the current week (using closing positions on Tuesday) swings to new short in the USD for the first time since July 2021.
EUR net longs rose to the largest position since June 2021.
The EURUSD is trading marginally lower this week (-0.25%). Last week the index moved up 3.95%. Remember the data goes from Tuesday close to Tuesday close. So the rally last week, likely helped contribute to the shift to upside and helped to fuel that rally as well. The CPI was released on Thursday of last week. That day saw the EURUSD move up nearly 2%. On Friday it moved up 1.4%.
