Rising Euro-Zone, US Political Risks Driving EUR/USD in Short-term

In the event that political risks in the Euro-Zone continue to build up, there is ample room for market participants to drive down the single currency in the short-term. Among futures traders, non-commercials are only holding 119.2K net-short short contracts through the week ended November 15, 2016. Relative to the all-time extreme set at the end of March 2015, when there were 226.6K net-short contracts held, bearishness towards the Euro isn’t that significant at present time.