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3 Nov 2015
IMM net speculators' positioning - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank offered the IMM Net Speculators’ Positioning as at 27 October 2015.
Key Quotes:
"Following the very dovish commentary from ECB President Draghi at the October 22 policy meeting, EUR shorts have jumped. That said, they remain below their August highs.
USD longs recovered some ground ahead of the September FOMC policy meeting. The more hawkish than expected tone from the Fed on October 28 suggests that longs have the potential to increase further this week.
Net sterling positions lost some ground though they stayed in positive territory. The market is looking ahead to the BoE’s November 5 Quarterly Inflation Report to throw light on the timing of the first rate hike of the cycle.
JPY shorts leapt higher last week to the highest level since late August. Speculation that the BoJ could further ease policy October 30 combined with a better tone in risk appetite in recent weeks were likely contributing factors.
CHF net long positions climbed to their highest level since July. Speculation that the ECB may be about to unleash further stimulus in December may be supporting the CHF.
Net AUD shorts slipped a touch. The November 3 RBA policy decision will be crucial for the next set of data. CAD shorts fell, the outlook for crude oil prices remains key."
Key Quotes:
"Following the very dovish commentary from ECB President Draghi at the October 22 policy meeting, EUR shorts have jumped. That said, they remain below their August highs.
USD longs recovered some ground ahead of the September FOMC policy meeting. The more hawkish than expected tone from the Fed on October 28 suggests that longs have the potential to increase further this week.
Net sterling positions lost some ground though they stayed in positive territory. The market is looking ahead to the BoE’s November 5 Quarterly Inflation Report to throw light on the timing of the first rate hike of the cycle.
JPY shorts leapt higher last week to the highest level since late August. Speculation that the BoJ could further ease policy October 30 combined with a better tone in risk appetite in recent weeks were likely contributing factors.
CHF net long positions climbed to their highest level since July. Speculation that the ECB may be about to unleash further stimulus in December may be supporting the CHF.
Net AUD shorts slipped a touch. The November 3 RBA policy decision will be crucial for the next set of data. CAD shorts fell, the outlook for crude oil prices remains key."