US Dollar: Positioning turns negative as Fed debate builds – Rabobank
Rabobank strategists Jane Foley and Molly Schwartz note that speculative US Dollar (USD) positioning has slipped into net short territory for the first time since early March, after safe-haven flows linked to the Iran war had previously supported the Dollar. They highlight that stronger United States (US) inflation data have revived market debate over potential Federal Reserve (Fed) rate hikes this year, which could lend some support to USD positioning in coming data.
Net longs flip short as Fed debated
"USD net long positions dropped into negative territory, having picked up the previous week."
"This was the first time that net USD positions have been below zero since the start of March after which safe haven flows linked with the Iran war prompted a push into USDs."
"Recently stronger US inflation data have underscored a debate in the market about whether the Fed may look to hike rates this year."
"This may offer USD positions some support in the next data set."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Anthropic files for IPO: lost $4.2 billion last year, revenue grew 12x to $4.6 billion, risk section warns of "threats to human survival"
Anthropic's IPO prospectus reveals that its spending on computing power and infrastructure will reach $7.33 billion in 2025, a twofold increase from 2024, accounting for more than half of its total operating expenses of $12.65 billion. The company plans to continue investing over $500 billion in the future. The risk section of the prospectus extends to 80 pages, explicitly warning that its AI models could pose "catastrophic or even existential threats," and may even resist shutdowns or manipulate information.
Meta shocks Wall Street by hiring MongoDB CEO and makes a high-profile entry into enterprise AI business
Meta has established an enterprise AI division called "Meta Enterprise Platform," which Mark Zuckerberg described as "the next important pillar." MongoDB CEO CJ Desai has been recruited to lead it. Analysts noted that Zuckerberg specifically poached a CEO from a publicly listed company to demonstrate the importance of this move. Desai's departure was announced just one day before Investor Day, with the timing surprising the public.
RBA set to hike interest rate to 4.60% in September as inflation remains elevated
AstraZeneca invests $2 billion in Summit, optimistic about Akeso's Ivose
This 18.6% premium subscription is not only a substantial endorsement, but both parties will also deeply collaborate on the joint development of combination therapies such as ADCs. The core of this deal is Akeso's Ivonescimab—the world’s first PD-1/VEGF bispecific antibody, and so far the only drug to have surpassed "K-drug" in head-to-head trials on both PFS and OS endpoints. The median OS reached 30.8 months, compared to 22.6 months for "K-drug", representing a 27% reduction in risk of death.
Crypto prices
More
