Currency Analysis
by Paul Kavanaugh, PFGBEST
1-888-439-6033
pkavanaugh@pfgbest.com
-Sixteenth straight week of net long US dollar bets.
-Euro zone debt crisis continues to dominate currency news
-Large Speculators increase net short positions in Euro to another all-time record high
-Euro hit lowest level against US dollar since September 10, 2010.
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CFTC data released Friday November 11th shows IMM currency speculators decreased bets long the US dollar by 36.87% from $9.87 billion to $6.23 billion in the week ending Tuesday November 8th. The most recent Commitments of Traders data shows some significant percentage changes in speculative positions in the currencies from the prior week including the following:
Commitments of Traders Data
(Non-Commercial Net Position Data thru Tuesday January 3rd)
A minor 7.14% increase from 21,812 to 23,371 contracts net short of the Canadian dollar;
A sizable 23.68% increase from 10,798 to 13,355 contracts net short of the Swiss Franc;
A building 9.34% increase from 29,172 to 31,899 contracts net short of the British Pound;
Yet another increase of 8.62% from 127,879 to 138,909 contracts net short of the Euro;
A staggering 150.08% increase from 22,585 to 56,481 contracts net long of the Japanese Yen;
And a huge 42.58% increase from 32,637 to 46,537 contracts net long of the Australian dollar.
(Source CFTC.gov)
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There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
