FX Positioning: Euro Long Positions Rose Before Dollar Rally

In the rest of G10, CAD (FXC) and JPY (FXY) both saw an increase in net shorts, with the loonie now having seen a full unwinding of its net long positions as global sentiment deteriorated and the USD (UUP) gained ground. CHF (FXF) saw a very wide change in positioning (-8.8% of open interest), oddly in a week where it was among the best G10 performers. This is another indication of how the positioning on the franc reported by the CFTC is not particularly accurate and very often shows wide swings that have no connection with the actual market sentiment on the currency.

1 2
View single page >> |

Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.