16 Jun 2014
Specs ramped-up net longs in USD - TDS
FXStreet (Bali) - The TD Securities FX Team reviews the most important changes on the CFTC Commitments of Traders Report for the week ending Tuesday, June 10th.
Key Quotes
"Speculative investors and CTA-type accounts ramped-up their net long USD position during the week ended on June 10th, mostly to the detriment of the EUR and the JPY. The latest Commitment of Traders Report shows that the overall change in positioning among major currencies led to an increase in implied USD net longs from US$6.6 billions to US$11 billions, the highest since March 4th."
"Similar to the changes observed in the previous week, the largest moves were registered in EUR and JPY positioning, with both currencies seeing sizeable net short extensions. Net EUR shorts went from -33.0k contracts to -57.2k, while net JPY shorts were extended from –74.2k contracts to -82.2k contracts."
"Contrarily, MXN remains the currency with the largest bullish bet from speculative investors and CTA accounts. Net longs were extended from 86.0k to 90.2k, the largest net long since May of last year.
§ GBP experienced a minor net long extension, going from +35.0k to +35.8k contracts. On the other hand, net NZD longs were scaled back modestly to 16.9k from +17.5k."
"AUD saw a considerable net long extension, with the number of net long contracts rising to +28.2k from +21.5k prior. CAD run the opposite fate, experiencing a ramp-up in net shorts to -24.1k contracts from -22.7k prior."
"Similarly, CHF saw an extension of net shorts to -3.0k contracts from –2.0k contracts prior."
Key Quotes
"Speculative investors and CTA-type accounts ramped-up their net long USD position during the week ended on June 10th, mostly to the detriment of the EUR and the JPY. The latest Commitment of Traders Report shows that the overall change in positioning among major currencies led to an increase in implied USD net longs from US$6.6 billions to US$11 billions, the highest since March 4th."
"Similar to the changes observed in the previous week, the largest moves were registered in EUR and JPY positioning, with both currencies seeing sizeable net short extensions. Net EUR shorts went from -33.0k contracts to -57.2k, while net JPY shorts were extended from –74.2k contracts to -82.2k contracts."
"Contrarily, MXN remains the currency with the largest bullish bet from speculative investors and CTA accounts. Net longs were extended from 86.0k to 90.2k, the largest net long since May of last year.
§ GBP experienced a minor net long extension, going from +35.0k to +35.8k contracts. On the other hand, net NZD longs were scaled back modestly to 16.9k from +17.5k."
"AUD saw a considerable net long extension, with the number of net long contracts rising to +28.2k from +21.5k prior. CAD run the opposite fate, experiencing a ramp-up in net shorts to -24.1k contracts from -22.7k prior."
"Similarly, CHF saw an extension of net shorts to -3.0k contracts from –2.0k contracts prior."