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IMM Positioning: EUR/USD Still In Neutral Territory‏

ByDanske Markets
Published 12/17/2013, 02:36 AM
Updated 05/14/2017, 06:45 AM
EUR/USD
0.56%

The latest IMM data cover the week from 3 to 10 December.

The IMM positioning data released on Friday shows that for the second consecutive week investors have built in net long EUR positions (6.6K contracts). However, from a positioning perspective, the EUR/USD remains in neutral territory, underlining that the cross is still sensitive to information flows in both directions.

Net shorts continue to be added in the CAD and AUD, while investors left their positioning in the NZD close to unchanged from the previous week. Speculative net short CAD positions were increased by 7.3% of open interest last week and CAD positioning now looks very stretched at the fifth percentile in a historical sense. Fewer net short AUD positions were added (1.5K contracts) but AUD positioning remains very short close to the all-time high seen in July this year.

For the first time in several weeks, investors added net long JPY positions. Nonetheless, speculative trading accounts remain very short JPY and positioning is still close to the historical all-time high - currently just above the first percentile.

Investors added long CHF positions ahead of the SNB meeting. Net long CHF positions were increased by 4.3% of open interest in the week ending 10 December, suggesting that some investors might have speculated on a change of rhetoric by the SNB in connection with its quarterly meeting on 12 December.

To Read the Entire Report Please Click on the pdf File Below.


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