26 May 2015
Greenback bullishness underpinned in CFTC report - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT Currency Strategist at Scotiabank explained that the bullish USD position continues to come into balance.
Key Quotes:
"With the aggregate long position falling $2.9bn w/w to $27.0bn—its lowest level since August 2014."
"The bulk of the move was driven by short covering in EUR, GBP and CAD, and we note the absence of a commensurate build in longs—hinting to an ongoing adjustment in positioning rather than an outright shift in the USD outlook."
"CAD, AUD and CHF are held net long, and investors hold modest short positions in both GBP and JPY. EUR is by far the largest held net short at $23.5bn."
Key Quotes:
"With the aggregate long position falling $2.9bn w/w to $27.0bn—its lowest level since August 2014."
"The bulk of the move was driven by short covering in EUR, GBP and CAD, and we note the absence of a commensurate build in longs—hinting to an ongoing adjustment in positioning rather than an outright shift in the USD outlook."
"CAD, AUD and CHF are held net long, and investors hold modest short positions in both GBP and JPY. EUR is by far the largest held net short at $23.5bn."