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IMM Net Speculators Positioning - Rabobank

FXStreet (Barcelona) - Jane Foley, Senior Currency Strategist at Rabobank shares the Net speculator’s positioning data as at 11th November, 2014.

Key Quotes

“Speculators consolidated their USD positions last week. While longs are off their recent highs, they are still twice as large as the longs held in July.”

“Having risen to their highest level since June 2012 during the previous week, EUR shorts dropped back a touch.”

“Weak Eurozone activity data and disinflationary pressures in the UK have caused the market to push back expectations regarding the timing of the first BoE rate hike. GBP positions dropped even further into negative territory last week and the dovish November Inflation Report suggests a further build up of shorts is possible in the next report.”

“Despite the massive increase in BoJ QE announced on October 31, JPY shorts increased only moderately initially. JPY shorts did grow last week but they remain below recent highs.”

“AUD shorts consolidated at fairly elevated levels. CAD shorts increased again but the tone is mostly consolidative.”

“CHF net shorts rose a little despite the proximity of the November 30 referendum on SNB gold holdings which could undermine the EUR/CHF ‘floor’.”

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