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23 Feb 2015
CFTC Report: USD positions fall for the second consecutive week – Rabobank
FXStreet (Barcelona) - The Rabobank Team shares the IMM Net Speculators’ Positioning as at 17 February 2014.
Key Quotes
“For the second consecutive week USD positions dropped back from their recent extremely elevated levels. While the January labour market report was strong, many other recent US data releases have disappointed.”
“EUR shorts fell for the second consecutive week although they remain substantial. While some better Eurozone economic data releases have been supportive, ECB QE confirmation and Greek political concerns have undermined the EUR.”
“For the fourth consecutive week, net GBP shorts edged lower. Pre-election uncertainty remains a negative sterling factor. However, the fact that UK assets still offer some yield coupled with assurances from BoE Governor Carney that the Bank will look through disinflation pressures (on the basis that low commodity prices is good for growth), is lending the pound support.”
“Net JPY shorts dropped for a fifth week and are now less than half the size of their December highs. Geopolitical concerns have tempered bearish yen bets.”
“AUD net shorts edged a little higher. This month they increased to their highest level since Jan 2013 after the RBA cut rates. Net CADs shorts edged down on the back of firmer oil prices.”
“CHF net shorts appear to have settled at moderately negative levels after last month’s SNB’s surprise policy decision.”
Key Quotes
“For the second consecutive week USD positions dropped back from their recent extremely elevated levels. While the January labour market report was strong, many other recent US data releases have disappointed.”
“EUR shorts fell for the second consecutive week although they remain substantial. While some better Eurozone economic data releases have been supportive, ECB QE confirmation and Greek political concerns have undermined the EUR.”
“For the fourth consecutive week, net GBP shorts edged lower. Pre-election uncertainty remains a negative sterling factor. However, the fact that UK assets still offer some yield coupled with assurances from BoE Governor Carney that the Bank will look through disinflation pressures (on the basis that low commodity prices is good for growth), is lending the pound support.”
“Net JPY shorts dropped for a fifth week and are now less than half the size of their December highs. Geopolitical concerns have tempered bearish yen bets.”
“AUD net shorts edged a little higher. This month they increased to their highest level since Jan 2013 after the RBA cut rates. Net CADs shorts edged down on the back of firmer oil prices.”
“CHF net shorts appear to have settled at moderately negative levels after last month’s SNB’s surprise policy decision.”