[B]USD/CHF Ratio: -1.02
[/B][B]Signal: Bullish[/B]
[B]Currency[/B] [B]Last Week[/B] [B]Present*[/B] [B]% Long[/B] [B]% Change in Positions Outstanding[/B] [B]Signal[/B] USDCHF -1.45 [B]-1.02[/B] 50% -6.23% Bullish
[B]USDCHF –[/B] As the dollar’s tentative advance stalls across the majors, USDCHF retail positioning has been particularly attuned to the market shift. The franc-denominated pair has cut a major wedge since losing its footing back in the beginning of May, and the sentiment ratio has steadily worked its way back towards parity over the same period. This week, the Speculative Sentiment gauge settled to -1.02 with retail traders nearly evenly split on direction. For comparison, the index stood at -1.45 last Thursday. Much like USDJPY, the details from the USDCHF report reflect a relatively steady move back towards positioning parity. Long positions were 4.9% higher than yesterday, but were 8.5% lower than last week. At the same time, shorts rose 3.1% over a 24 hour period though they were 3.9% below last week’s level. Net positioning was a slight 0.8% greater than last Thursday, though open interest is still 7.9% higher than last week’s levels. Considering the last major flip in the USDCHF SSI preceded a reversal in the underlying, we will be waiting to see whether another confirmed switch back to consistent net long readings will foreshadow a new down leg.