USD is the safe haven currency. Even thought the stimulus bill is going to be negative for the strength of the USD, there will still be investors flocking into the USD because of what is happening in the stock market. COT non-commercials are bullish on the USD, adding in longs over the course of the previous week.
Euro has seen strength even though all the economic data coming out of eurozone, is heavily negative. Heavy stimulus is also brought by the European Central Bank, so there is no difference in strategy between the FED en the ECB, the economy is heading into a crisis right now.
COT non-commercials have been seen with higher net-positions then what was regular over the course of the year. Turning euro into positive net positions. This was mostly due to shorts closing, which made the price move up. Now since last week they started adding proper longs as well. We can expect a bit more euro strength, but I expect it to fade and the downtrend to continue.
Euro has seen strength even though all the economic data coming out of eurozone, is heavily negative. Heavy stimulus is also brought by the European Central Bank, so there is no difference in strategy between the FED en the ECB, the economy is heading into a crisis right now.
COT non-commercials have been seen with higher net-positions then what was regular over the course of the year. Turning euro into positive net positions. This was mostly due to shorts closing, which made the price move up. Now since last week they started adding proper longs as well. We can expect a bit more euro strength, but I expect it to fade and the downtrend to continue.