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6 Feb 2015
CFTC Commitments of Traders Report - TDS
FXStreet (Guatemala) - Analysts at TD Securities offered the CFTC Commitments of Traders Report for week ending Tuesday, February 3rd.
Key Quotes:
"CFTC positioning data reflect the fact that the EUR continues to bear the brunt of speculative USD buying interest. Aggregate positioning in the major currencies showed a small increase in the implied overall long USD bet this week (USD47.8 bn versus USD46.1bn in the January 27th week) but all of that increase can be accounted for by the positioning in the EUR contract; here, net short positions rose to a new record of –196.3k contracts, from a net short of –184.7k in last week’s data—the equivalent of an increase of just under USD 2 bn overall."
"Investors chopped net short JPY positioning back again this week to –59.5k contracts (from –64.6k prior), the smallest bear bet on the JPY since July last year. The JPY has moved sideways for the past couple of months, reducing interest in the trade but JPY weakness through the latter part of this week may see shorts increase again ahead."
"The CAD saw a little more interest from the short side this week, with net shorts rising to –27.3k (up from –23.9k);. But positioning overall here still looks quite light relative to the sell-off in the currency in the past few months. Speculative accounts do not appear to be participating aggressively in the short CAD trade, perhaps reflecting the speed of the move and the lack of any real pullback in the trend since the CAD sell-off got underway last year. Net AUD shorts increased to –56.1k this week (versus –48.9k) and net NZD shorts rose to –4.4k contracts (from –3.6k last)."
"Net short CHF positions are slowly being jobbed away; the market’s net short position has declined only slowly since mid-January to reach –5.5k contracts this week (-7.3k last). Net GBP shorts were little changed on the week at –42.3k (-45.3k last). Net MXN shorts nudged higher to –48.2k this week, well within recent ranges."
Key Quotes:
"CFTC positioning data reflect the fact that the EUR continues to bear the brunt of speculative USD buying interest. Aggregate positioning in the major currencies showed a small increase in the implied overall long USD bet this week (USD47.8 bn versus USD46.1bn in the January 27th week) but all of that increase can be accounted for by the positioning in the EUR contract; here, net short positions rose to a new record of –196.3k contracts, from a net short of –184.7k in last week’s data—the equivalent of an increase of just under USD 2 bn overall."
"Investors chopped net short JPY positioning back again this week to –59.5k contracts (from –64.6k prior), the smallest bear bet on the JPY since July last year. The JPY has moved sideways for the past couple of months, reducing interest in the trade but JPY weakness through the latter part of this week may see shorts increase again ahead."
"The CAD saw a little more interest from the short side this week, with net shorts rising to –27.3k (up from –23.9k);. But positioning overall here still looks quite light relative to the sell-off in the currency in the past few months. Speculative accounts do not appear to be participating aggressively in the short CAD trade, perhaps reflecting the speed of the move and the lack of any real pullback in the trend since the CAD sell-off got underway last year. Net AUD shorts increased to –56.1k this week (versus –48.9k) and net NZD shorts rose to –4.4k contracts (from –3.6k last)."
"Net short CHF positions are slowly being jobbed away; the market’s net short position has declined only slowly since mid-January to reach –5.5k contracts this week (-7.3k last). Net GBP shorts were little changed on the week at –42.3k (-45.3k last). Net MXN shorts nudged higher to –48.2k this week, well within recent ranges."