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CFTC Data: USD longs continued to push higher - Rabobank

FXStreet (Delhi) – Jane Foley, FX Strategist at Rabobank, notes down the IMM Net Speculators’ Positioning data as at 01 December 2015.

Key Quotes

• “The level of EUR shorts continued to surge in the approach to the December 3 ECB Council Meeting, reaching their highest levels since May. The short squeeze that followed the ECB announcement suggests that the level of shorts will be lower this week.

• By contrast USD longs continued to push higher on anticipation of a tightening in policy from the Fed on December 16. Longs have now reached their highest level since May.

• Net sterling shorts positions lost a little ground. However, disappointing UK economic data releases last week are likely to keep GBP on the back foot for now.

• JPY shorts have lost ground for a second consecutive week. The BoJ continues to indicate that it has little enthusiasm for extending its huge asset purchase programme at this stage.

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