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16 Mar 2015
IMM Net Speculators’ Positioning - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted the IMM Net Speculators’ Positioning as at 10 March 2015.
Key Quotes:
"Long USD positions surged in the wake of the previous week’s release of strong February nonfarm payrolls data and have now surpassed the previous highs for the year."
"By contrast EUR shorts extended their position though they remain a little below the year’s highest point."
"GBP shorts have gained more ground and the pound could be vulnerable in the approach to the May 7 election."
"That said, the fact that UK bonds still offer better yield relative to many European alternatives coupled with assurances from BoE Governor Carney that the Bank will look through disinflationary pressures (on the basis that low commodity prices is good for growth), may lend the pound some support."
"Net JPY shorts climbed back to the levels held in early February amid speculation that the BoJ could ease policy again later this year."
"AUD net shorts rose sharply on the back of growth concerns. Net CADs shorts ticked higher and weaker oil prices suggest that shorts could extend again this week."
"CHF net shorts increased modestly but they appear to have settled at moderately negative levels after January’s SNB’s surprise policy decision."
Key Quotes:
"Long USD positions surged in the wake of the previous week’s release of strong February nonfarm payrolls data and have now surpassed the previous highs for the year."
"By contrast EUR shorts extended their position though they remain a little below the year’s highest point."
"GBP shorts have gained more ground and the pound could be vulnerable in the approach to the May 7 election."
"That said, the fact that UK bonds still offer better yield relative to many European alternatives coupled with assurances from BoE Governor Carney that the Bank will look through disinflationary pressures (on the basis that low commodity prices is good for growth), may lend the pound some support."
"Net JPY shorts climbed back to the levels held in early February amid speculation that the BoJ could ease policy again later this year."
"AUD net shorts rose sharply on the back of growth concerns. Net CADs shorts ticked higher and weaker oil prices suggest that shorts could extend again this week."
"CHF net shorts increased modestly but they appear to have settled at moderately negative levels after January’s SNB’s surprise policy decision."