23 Jun 2014
Specs positioning registered a few notable changes - TDS
FXStreet (Bali) - The TDS FX Team reviewed the latest changes on the CFTC Commitments of Traders Report, for the week ending Tuesday, June 17th, noting that speculative positioning registered a few notable changes.
Key Quotes
"Speculative positioning registered a few notable changes during the week ended on June 17th, according to the latest Commitments of Traders Report from the CFTC. MXN saw the largest change in positioning, as speculative investors and CTA-type accounts reduced their net longs on the currency by 21.1k contracts, leaving the total number of outstanding net longs at 69.0k contracts. In spite of this, MXN remains the currency with the largest bullish bet from speculative investors."
"GBP also registered a large change in positioning; net longs on the currency were increased from +35.8k to +52.6k contracts during the intervening week, reflecting the repercussions from Governor Carney's Mansion House speech."
"Short covering of JPY positioning yielded a reduction in net shorts of 14.1k contracts to a total of -68.0k. This also coincided with the BoJ galvanizing market expectations that any potential additional monetary accommodation would be delayed into late-2014. EUR run the opposite fate, as net shorts were extended to -61.8k from -57.2k contracts prior."
"NZD experienced a large net long reduction to +3.7k from +16.9k net longs prior, likely a reflection of investors turning less optimistic about the potential for further NZD appreciation in the aftermath of the RBNZ policy meeting. AUD saw a minor net long reduction to +27.0k from +28.2k prior, whereas CAD registered modest short covering from -24.1k to -21.5k net shorts."
"Lastly, speculative positioning in CHF shifted from a net short of -3.0k contracts to a net long of +3.5k during the week ended on Tuesday June 17th."
"On net, all these changes in speculative positioning led to a modest reduction in the implied USD net long position from US$11bn to US$9.2 bn."
Key Quotes
"Speculative positioning registered a few notable changes during the week ended on June 17th, according to the latest Commitments of Traders Report from the CFTC. MXN saw the largest change in positioning, as speculative investors and CTA-type accounts reduced their net longs on the currency by 21.1k contracts, leaving the total number of outstanding net longs at 69.0k contracts. In spite of this, MXN remains the currency with the largest bullish bet from speculative investors."
"GBP also registered a large change in positioning; net longs on the currency were increased from +35.8k to +52.6k contracts during the intervening week, reflecting the repercussions from Governor Carney's Mansion House speech."
"Short covering of JPY positioning yielded a reduction in net shorts of 14.1k contracts to a total of -68.0k. This also coincided with the BoJ galvanizing market expectations that any potential additional monetary accommodation would be delayed into late-2014. EUR run the opposite fate, as net shorts were extended to -61.8k from -57.2k contracts prior."
"NZD experienced a large net long reduction to +3.7k from +16.9k net longs prior, likely a reflection of investors turning less optimistic about the potential for further NZD appreciation in the aftermath of the RBNZ policy meeting. AUD saw a minor net long reduction to +27.0k from +28.2k prior, whereas CAD registered modest short covering from -24.1k to -21.5k net shorts."
"Lastly, speculative positioning in CHF shifted from a net short of -3.0k contracts to a net long of +3.5k during the week ended on Tuesday June 17th."
"On net, all these changes in speculative positioning led to a modest reduction in the implied USD net long position from US$11bn to US$9.2 bn."