12 Jan 2015
FX positioning: USD longs rise to record highs, EUR and GBP shorts increase – Rabobank
FXStreet (Barcelona) - The Rabobank Team highlights the FX positioning from CFTC’s commitments of traders report for the week ended 6th January, 2015, with most EUR, GBP, AUD and CHF registering increase in short positions while USD longs stormed to record highs.
Key Quotes
“Long USD positions stormed to record highs last week on expectations that the Fed could be preparing to hike rates this year. Weak US wage inflation data could subdue the bulls.“
“By contrast net EUR shorts increased to a six week high. Political concerns stemming from Greece appear to be adding to the bearish tone in the EUR which has been invoked by dovish comments from ECB President Draghi.”
“Net JPY shorts dipped in line with the early January equity market selloff which suggests that safe haven demand lent the JPY some support.”
“Net GBP shorts rose for the third consecutive week following a bout of weaker than expected UK economic data.”
“AUD net shorts have risen to their highest level since February 2014. Although net CAD shorts fell moderately in mid-December, the move proved temporary; shorts have risen for two consecutive weeks. MXN net shorts remain elevated.”
“CHF net shorts increased to their highest level since mid 2013 as the EUR/CHF floor holds close to the SNB’s 1.20 ‘floor’.”
Key Quotes
“Long USD positions stormed to record highs last week on expectations that the Fed could be preparing to hike rates this year. Weak US wage inflation data could subdue the bulls.“
“By contrast net EUR shorts increased to a six week high. Political concerns stemming from Greece appear to be adding to the bearish tone in the EUR which has been invoked by dovish comments from ECB President Draghi.”
“Net JPY shorts dipped in line with the early January equity market selloff which suggests that safe haven demand lent the JPY some support.”
“Net GBP shorts rose for the third consecutive week following a bout of weaker than expected UK economic data.”
“AUD net shorts have risen to their highest level since February 2014. Although net CAD shorts fell moderately in mid-December, the move proved temporary; shorts have risen for two consecutive weeks. MXN net shorts remain elevated.”
“CHF net shorts increased to their highest level since mid 2013 as the EUR/CHF floor holds close to the SNB’s 1.20 ‘floor’.”