# Goldman Sachs: We’re closing two of our long-dollar ‘top trades’

> Goldman Sachs closed two long-dollar 'top trade' positions, against the euro and pound and via a 12-month NDF on the yuan, which had produced potential losses. The bank cited stronger global growth, Trump's complaints about a strong dollar, and an expected pause in Fed rate hikes.

- Date: 2017-04-19 · published 2017-04-19T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71410-goldman-sachs-we-re-closing-two-of-our-long-dollar-top-trades
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A major bank abandoning its bullish dollar view points to a weaker dollar outlook, which tends to support dollar-priced commodities such as grains and soybean products. Impact is modest since it is a single research call.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-04-19 | [Goldman Sachs dumps dollar as reflation trade retreats - Asia Times](https://feedsoft.ai/events/71688-goldman-sachs-dumps-dollar-as-reflation-trade-retreats-asia-times.md) | +0.2% | -0.2% |
| DXY | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | -0.3% | -1.2% |
| DXY | 2020-10-22 | [Goldman Sachs: Commodities bull market ahead on dollar, inflation risk](https://feedsoft.ai/events/50555-goldman-sachs-commodities-bull-market-ahead-on-dollar-inflation-risk.md) | +0.8% | -1.1% |
| DXY | 2025-04-30 | [Foreign demand for US assets will wane unless the dollar slides more: Goldman Sachs](https://feedsoft.ai/events/25324-foreign-demand-for-us-assets-will-wane-unless-the-dollar-slides-more-goldman.md) | -0.5% | -0.5% |
| DXY | 2017-05-19 | [USD: Expect the strong trend to fade – Goldman Sachs — Octa](https://feedsoft.ai/events/71188-usd-expect-the-strong-trend-to-fade-goldman-sachs-octa.md) | -0.8% | -1.4% |
| EURUSD | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | +0.7% | +1.3% |
| EURUSD | 2020-08-27 | [Euro-Dollar Can Pass 1.20 withouth Drawing ECB Ire says Goldmans](https://feedsoft.ai/events/51825-euro-dollar-can-pass-1-20-withouth-drawing-ecb-ire-says-goldmans.md) | +0.2% | -1.2% |
| EURUSD | 2021-02-11 | [Dollar slides near two-week lows as Fed pledges low rates](https://feedsoft.ai/events/48817-dollar-slides-near-two-week-lows-as-fed-pledges-low-rates.md) | -0.4% | -1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/04/19/goldman-sachs-were-closing-two-of-our-long-dollar-top-trades.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.