12 Jan 2015
CFTC Commitments of Traders Report - TDS
FXStreet (Guatemala) - Analysts at TD Securities offered the CFTC Commitments of Traders ReportWeek Ending Tuesday, January 6th.
Key Quotes:
"CFTC positioning data for the week through January 6th showed speculative and CTA-type investors remained quite active over the holiday period. Investors clearly prefer the long USD side of the market—still—taking the implied aggregate USD long position versus the major currencies on the IMM to USD 46.5bn. Recall that the aggregate USD long position peaked at USD 49.4bn in late November last year.
"Specs started to rebuild net short EUR positions again quite aggressively over the holiday period, lifting the EUR net short position from –146k contracts on December 23rd to –161k contracts in the latest week’s data, the biggest bet against the EUR since late November. Net short JPY positions were trimmed, however, in the latest week, declining to –90k contracts from –96k in the prior week. The EUR position constitutes about half of the aggregate bet against the USD (USD23.9bn), noted in the paragraph above, with the JPY position contributing another USD9.5bn to the sum".
"Elsewhere, one of the biggest positioning changes was seen against the CHF, with investors ramping up the net short CHF position to –24.1k contracts, up from –16.5k contracts as investors reacted to the SNB rebuffing the speculative attack on the EURCHF floor seen on Christmas Day".
"Net GBP shorts rose from –19.3k contracts to –25.5k contracts in the January 6th week. And investors also added to net short positions in the AUD –48.6k contracts from –40.7k) and the CAD (-17.1k contracts from –14.0k). Net short NZD positions were halved to just 907 contracts, in line with the limited positioning seen here recently".
"Investors continue to position quite aggressively in the MXN, with the net short position that has evolved here alongside the slide in crude oil prices rising to –64.5k contracts this week, from 63.8k contracts in the prior week and -43k contracts at the start of December".
Key Quotes:
"CFTC positioning data for the week through January 6th showed speculative and CTA-type investors remained quite active over the holiday period. Investors clearly prefer the long USD side of the market—still—taking the implied aggregate USD long position versus the major currencies on the IMM to USD 46.5bn. Recall that the aggregate USD long position peaked at USD 49.4bn in late November last year.
"Specs started to rebuild net short EUR positions again quite aggressively over the holiday period, lifting the EUR net short position from –146k contracts on December 23rd to –161k contracts in the latest week’s data, the biggest bet against the EUR since late November. Net short JPY positions were trimmed, however, in the latest week, declining to –90k contracts from –96k in the prior week. The EUR position constitutes about half of the aggregate bet against the USD (USD23.9bn), noted in the paragraph above, with the JPY position contributing another USD9.5bn to the sum".
"Elsewhere, one of the biggest positioning changes was seen against the CHF, with investors ramping up the net short CHF position to –24.1k contracts, up from –16.5k contracts as investors reacted to the SNB rebuffing the speculative attack on the EURCHF floor seen on Christmas Day".
"Net GBP shorts rose from –19.3k contracts to –25.5k contracts in the January 6th week. And investors also added to net short positions in the AUD –48.6k contracts from –40.7k) and the CAD (-17.1k contracts from –14.0k). Net short NZD positions were halved to just 907 contracts, in line with the limited positioning seen here recently".
"Investors continue to position quite aggressively in the MXN, with the net short position that has evolved here alongside the slide in crude oil prices rising to –64.5k contracts this week, from 63.8k contracts in the prior week and -43k contracts at the start of December".