FXStreet (Guatemala) – Analysts at Rabobank noted the IMM Net Speculators’ Positioning as at 16 June 2015.
Key Quotes:
“The size of EUR shorts dropped dramatically last week to the lowest level since last July. This strengthens our view that the EUR has been displaying quasi safe haven behaviour likely linked with the Eurozone’s large current account surplus.”
“USD longs dropped back last week ahead of the FOMC meeting. The Fed lowered its trajectory for 2016 rate hikes suggesting that USD longs could see an additional setback in the next set of data.”
“GBP net shorts lost a little ground last week. Concerns about an UK austerity budget in July and a EU referendum could weigh on the pound going forward. That said, hawkish comments from BoE’s Forbes lent GBP support in the sport market last week.”
“JPY shorts retreated rapidly from the previously week’s surge. Comments from BoJ Governor Kuroda regarding the weakness of the yen’s effective exchange rate have likely countered some of the build-up in yen bearish sentiment.”
“CHF net positions have held above zero for twelve consecutive weeks with Grexit uncertainty likely driving safe haven demand.”
“Speculators were less bearish on the AUD last week though short CAD positions held largely stable.”
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