FXStreet (Guatemala) – Analysts at TD Securities offered the CFTC Commitments of Traders Report – week ending Tuesday, May 26th for the FX market.
Key Quotes:
“IMM data show speculative and CTA accounts boosting their aggregate exposure to the long USD trade this week by a little less than USD4.5 bn overall as far as exposure to the major currencies is concerned. This is the first rise in aggregate USD long positioning (to a total of USD31.4bn) since late March but—for once—the driver of the positioning change was not the EUR.”
“Net JPY shorts nearly tripled in total this week as the JPY slid sharply (spot USD/JPY rose above 122 Tuesday, the last day of the reporting period). Investors and speculators lifted net JPY shorts from –22k in the May 19th week to a total of –62k, in what amounts to the biggest bet against the JPY since February.”
“Net EUR shorts were little changed on the week at –171k (from –168k), ditto for net GBP shorts (-25.5k contracts from –23.3k) and net CHF longs (+8.3k from +9.4k).”
“Positioning in the commodity currencies remains quite flat overall.”
“Net AUD longs eased modestly (+6.4k this week) and specs continued to build net CAD longs (a little surprising in the face of a 1.5% loss in the CAD over the reporting week) to the point that the modest +7.3k position represents the biggest bull bet on the CAD since September.”
“Net NZD shorts positions doubled to –5k this week and, considering the Kiwi’s awful performance this week, should grow more.
(Market News Provided by FXstreet)