23 Mar 2015
CFTC: USD long positions surge post FOMC - Rabobank
FXStreet (Barcelona) - Jane Foley, Senior Currency Strategist at Rabobank, shares the IMM Net Speculators’ Positioning as at 17 March 2015.
Key Quotes
“The previous week long USD positions had surged in the wake of the release of strong February nonfarm payrolls data. Last week, USD longs ticked a little lower ahead of the FOMC meeting.”
“EUR shorts continued to grow, though they remain a little below the year’s highest point.”
“GBP shorts gained more ground though they remain below the year’s highs. While relatively high UK yields could lend some support, the pound could be vulnerable in the approach to the May 7 UK general election.”
“Net JPY shorts dropped back last week to levels held at the end of last month.”
“AUD net shorts more than halved last week to their lowest level since October 2014, though we expect the AUD to remain vulnerable on RBA interest rate cut talk.”
“Net CADs shorts also moved lower, oil prices remain a strong influence.”
“CHF net positions turned positive for the first time since May 2014. The SNB refrained from further policy stimulus last week.”
Key Quotes
“The previous week long USD positions had surged in the wake of the release of strong February nonfarm payrolls data. Last week, USD longs ticked a little lower ahead of the FOMC meeting.”
“EUR shorts continued to grow, though they remain a little below the year’s highest point.”
“GBP shorts gained more ground though they remain below the year’s highs. While relatively high UK yields could lend some support, the pound could be vulnerable in the approach to the May 7 UK general election.”
“Net JPY shorts dropped back last week to levels held at the end of last month.”
“AUD net shorts more than halved last week to their lowest level since October 2014, though we expect the AUD to remain vulnerable on RBA interest rate cut talk.”
“Net CADs shorts also moved lower, oil prices remain a strong influence.”
“CHF net positions turned positive for the first time since May 2014. The SNB refrained from further policy stimulus last week.”