Filed Under:
Forex pairs in this Article » EUR/USD, USD/CHF, GBP/USD, USD/JPY (Bali) - The latest analysis on speculative positioning saw a significant increase in activity, notes Marc Chandler, Head of FX at BBH.

Key Quotes

"The mixed spot performance of the dollar is reflected in the speculative positions in the currency futures. On a net basis, speculators are long the euro, sterling, Swiss franc, and Mexican peso. They are short yen and the Australian and Canadian dollars. This is almost the opposite of earlier this year, though the speculative market was short yen then too."

"Gross long currency positions were generally added to, except in the yen and Mexican peso. Almost a quarter of the peso longs were squeezed out (10.9k contracts), but in the three sessions after the reporting period ended, the peso has come back strongly. Gross short currency positions were more mixed, but the larger adjustments came from adding to shorts (especially the Canadian dollar, 17.2k contracts and Australian dollar 13.8k contracts)."

"Gross sterling longs saw the biggest increase, 17k contracts. The gross long sterling position is the largest of the currency futures we track. At 18.4k contracts it is nearly twice as large as the second place euros (9.3k contracts)."

"At 134.7k contracts, the gross short yen position is at a new five year high. The gross short Canadian dollar position (41.6k contracts) is the largest in six months."

"The net euro position swung back to the long side (9.3k contracts) after briefly and shallowly (0.4k contracts) to the short side the previous week. The net position had been near 72k contracts in early Nov. The shift was more about longs liquidating than new shorts entering. From Oct 22 through end of November, the gross long position fell 55k contracts, while the gross shorts rose by about 15k contracts in roughly a slightly longer period. The price action since the reporting period ended suggest this position adjustment was being reversed."
comments powered by Disqus
Trading Center