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18 Feb 2014
Flash: Speculators cut EUR short net positions in half - FXStreet
FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes a consolidative tone in the USD has emerged after last week's losses and the speculator's position adjustments shows a minor increase net long exposure corresponding to the most recent reporting week that ended on February 11 (published on the 14th).
Key Quotes
“The same specs were hesitant to build on their existing positions in the EUR and cut their short EUR in half to remain with a 6.929 net short exposure. Retail sources inform of a still overcrowded short position in the EUR/USD (data collected today: 75% at OANDA, 73% at Saxo Bank, 67% at Dukascopy, 81% at MyFxBook).”
“As expressed through recent COT statistics, the GBP futures contract prints a net positive number almost unchanged from the week before and remains the strongest long speculative position among major (the NZD and CHF behind).”
“Non-commercials also took some risk off in the AUD short position which was modestly reduced by 18.320 contracts (futures only), probably in the form of forced profit taking. Part of the flows may have helped to increase the US dollar aggregate position were improvements were reported, as mentioned at the start.”
“The JPY is still the strongest net short position among speculators, now pared at 106.984 (from 105.059). Shorts have been trimmed more than longs this week, underlying bearish trend in the open interest.”
“A positive move was observed in the commodity sector, were gold contracts longs were added slightly for the fifth consecutive week while the reduction of short contracts accelerated.”
Key Quotes
“The same specs were hesitant to build on their existing positions in the EUR and cut their short EUR in half to remain with a 6.929 net short exposure. Retail sources inform of a still overcrowded short position in the EUR/USD (data collected today: 75% at OANDA, 73% at Saxo Bank, 67% at Dukascopy, 81% at MyFxBook).”
“As expressed through recent COT statistics, the GBP futures contract prints a net positive number almost unchanged from the week before and remains the strongest long speculative position among major (the NZD and CHF behind).”
“Non-commercials also took some risk off in the AUD short position which was modestly reduced by 18.320 contracts (futures only), probably in the form of forced profit taking. Part of the flows may have helped to increase the US dollar aggregate position were improvements were reported, as mentioned at the start.”
“The JPY is still the strongest net short position among speculators, now pared at 106.984 (from 105.059). Shorts have been trimmed more than longs this week, underlying bearish trend in the open interest.”
“A positive move was observed in the commodity sector, were gold contracts longs were added slightly for the fifth consecutive week while the reduction of short contracts accelerated.”