How are forex traders positioned at the beginning of the new week:
-traders increase the net short in dollars against the euro significantly.
-Reduce the long position of the dollar against the pound
Only in the crosses with CAD and JPY there is an increase in net long positions in dollars.

Bullish positioning on the dollar continues to decline, following signs that the US economy is cooling, with forex traders net shorting for the first time in 6 weeks.
-Leveraged funds still have long positions, but the increase in short positioning among asset managers darkens the prospects for the dollar in the short term.
Traders are turning their attention to the PCE release later this week, with the Fed’s favorite gauge of inflation expected to slow, further supporting dovish expectations for the central bank in light of a slowing economy.
-GDP data from the US is expected on Thursday, with a forecast sharp decline to 1.3% (QoQ) from the previous 3.9%.
-This, according to a number of foreign exchange strategists, the development of such scenarios will put serious pressure on the Fed and will have a strong impact on the positioning of forex traders towards the dollar,
Trading is likely to be volatile at the beginning of the week, and depending on the incoming US economic data, on Thursday and Friday, the Short/mid term direction will be set.
-According to currency strategists, there is room for the development of bearish attitudes towards the dollar.


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