8 Dec 2014
GBP shorts increase to newer levels – Rabobank
FXStreet (Barcelona) - GBP short positions have increased to levels not seen since September 2013, notes the Rabobank Research Team as they highlight the CFTC speculators positioning data.
Key Quotes
“Net USD longs fell for the fifth consecutive week as speculators pared back their long positions, albeit only modestly. It is likely that the strong US November payrolls data will break this trend.”
“EUR shorts dropped again ahead of last week’s ECB meeting. While the EUR was volatile in the aftermath of the meeting, the doves now appear to have regained the upper hand.
For the fifth consecutive week, JPY net shorts increased substantially consistent with the march higher in USD/JPY.”
“GBP shorts continue to move higher as the market speculates that the BoE could delay a rate rise until early 2016. Net short positions have increased to levels not seen since September 2013.”
“AUD net shorts retreated a little. AUD continues to battle between carry trade demand and central bank jawboning. CAD short positions increased albeit within recent ranges. MXN shorts were extended further.”
“CHF net shorts dropped a little following the ‘no’ vote in the November 30 SNB gold holdings referendum .”
Key Quotes
“Net USD longs fell for the fifth consecutive week as speculators pared back their long positions, albeit only modestly. It is likely that the strong US November payrolls data will break this trend.”
“EUR shorts dropped again ahead of last week’s ECB meeting. While the EUR was volatile in the aftermath of the meeting, the doves now appear to have regained the upper hand.
For the fifth consecutive week, JPY net shorts increased substantially consistent with the march higher in USD/JPY.”
“GBP shorts continue to move higher as the market speculates that the BoE could delay a rate rise until early 2016. Net short positions have increased to levels not seen since September 2013.”
“AUD net shorts retreated a little. AUD continues to battle between carry trade demand and central bank jawboning. CAD short positions increased albeit within recent ranges. MXN shorts were extended further.”
“CHF net shorts dropped a little following the ‘no’ vote in the November 30 SNB gold holdings referendum .”