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To most practitioners it would appear that the accelerated undershoot of the euro that was taking place prior to intervention was precisely fuelled by position-taking on the assumption that the monetary authorities had no stomach for co-ordinated intervention (too close to America's election).
ECONOMIST: Interventionist
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In the legacy report, funds cut more gross shorts than gross longs, lowering their net-short position to 12, 992 contracts, taking their net-short position to the lowest since mid-March.
FORBES: FOCUS: Large Speculators' Gold Net-Long Position Falls To New Low -- CFTC
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In the legacy report, funds cut 670 gross longs and cut 5, 548 gross shorts, lowering their net-short position to 18, 464 contracts, taking their net-short position to the lowest since mid-March.
FORBES: FOCUS: Speculators Cut Most Bullish Precious Metals Futures, Options Positioning -- CFTC