7 Sep 2015
CFTC commitment of traders report - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted the IMM Net Speculators’ Positioning as at 01 September 2015.
Key Quotes:
Having dropped sharply the previous week net EUR shorts increased modestly suggesting that the recent aggressive unwind of EUR short positions may be running out of steam.
Net USD longs have edged lower having dropped more sharply the previous week. Expectations of a September Fed rate hike have been pared significantly over the past month although a robust set of August Labour data may lend the USD support this week.
Net sterling shorts dropped back into negative territory as speculation of the first a BoE rate hike was pushed further back on the back of EM growth concerns and market volatility.
JPY shorts have dropped to the lowest level since April reflecting the drop in risk appetite particularly with regard to the Asian region. Speculation that the BoJ could ease again this year could temper support for the yen going forward.
CHF net positions have stayed in negative territory for five consecutive weeks suggesting that negative interest rates and the threat of further SNB FX intervention have had some impact in undermining the attraction of the Swissie.
Net AUD shorts moderated after the previous week’s increase but remain at elevated levels. CAD shorts have also moderated. A decent set of Canadian labour data may lend some support going forward."
Key Quotes:
Having dropped sharply the previous week net EUR shorts increased modestly suggesting that the recent aggressive unwind of EUR short positions may be running out of steam.
Net USD longs have edged lower having dropped more sharply the previous week. Expectations of a September Fed rate hike have been pared significantly over the past month although a robust set of August Labour data may lend the USD support this week.
Net sterling shorts dropped back into negative territory as speculation of the first a BoE rate hike was pushed further back on the back of EM growth concerns and market volatility.
JPY shorts have dropped to the lowest level since April reflecting the drop in risk appetite particularly with regard to the Asian region. Speculation that the BoJ could ease again this year could temper support for the yen going forward.
CHF net positions have stayed in negative territory for five consecutive weeks suggesting that negative interest rates and the threat of further SNB FX intervention have had some impact in undermining the attraction of the Swissie.
Net AUD shorts moderated after the previous week’s increase but remain at elevated levels. CAD shorts have also moderated. A decent set of Canadian labour data may lend some support going forward."