FXStreet (Guatemala) – Analysts offered the IMM Net Speculators’ Positioning as at 26 May 2015.
Key Quotes:
USD longs fell for a sixth consecutive week as investors repositioned for a later first Fed rate hike, though the pace of the decline has slowed. Although net USD positions are still firmly in long territory, they are at their lowest level since December of last year.
After four straight falls, the level of EUR shorts increased last week. Not only has the ECB indicated that it will front-load some of its summer asset purchases but concerns that Greece could be on course for a default increased.
GBP net shorts edged higher. Concerns about an austerity budget in July and a EU referendum could weigh on the pound going forward.
JPY shorts increased sharply back to their highest levels since January reflecting the break higher by USD/JPY in the spot market.
CHF net positions have held above zero for nine consecutive weeks with Grexit uncertainty likely a factor.
AUD positions edged a little lower as doubts creep into the recent consensus view that the RBA’s easing cycle may be over. CAD longs edged higher. The previous week positions turned positive for the first time since September 2014.
(Market News Provided by FXstreet)