A relatively quiet week for the currencies we follow. Most activity and volatility was in the indices and commodities with the former suffering and the latter benefiting.
USD: A very busy week for the USD.
EURO: There is nothing of note for the Euro this week.
COT data for the Euro shows that large commercials very slightly reduced their net long position from 108,445 to 102,410. We maintain our position of SLIGHTLY BULLISH.GBP: Only three newsworthy items.
OTHER COT DATA OF NOTE:
SILVER: Large commercials have slightly increased their net short position from 21,357 to 31,314. We therefore remain SLIGHTLY BEARISH in the very short term.THOUGHTS FOR NEXT WEEK The only thought on traders minds will be this coming Friday’s release of the Nonfarm payroll number and the Unemployment rate.
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