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IMM Currency Specs increased long Australian dollar, latest CFTC data shows
Tuesday, February 07, 2012
by Paul Kavanaugh of PFGBest
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Currency Analysis
By Paul Kavanaugh, PFGBEST
1-888-439-6033
pkavanaugh@pfgbest.com
-20th straight week of net long US dollar bets.
-Euro zone debt crisis continues to dominate currency news
-Large Speculators increase net short positions in Australian dollar
-Large Speculators cut bets net short Euro by 16%
.png "201207") CFTC data released Friday February 3rd shows IMM currency speculators increased bets net short the Euro to yet another all-time record high. 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 31st
A minor 2.64% increase from 18,909 to 19,409 contracts net short of the Canadian dollar;
A solid 10.32% decrease from 12,514 to 11,222 contracts net short of the Swiss Franc;
A sizable 16.41% increase from 31,361 to 26,214 contracts net short of the British Pound;
A huge 27.72% increase from 44,367 to 56,669 contracts net long of the Japanese Yen;
A trimming 8.05% decrease from 171,347 to 157,546 contracts net short of the Euro;
And a building12.31% increase from 69,486 to 78,044 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.
Recent articles from this author
- IMM Currency Specs added to massive short Euro Bets, latest CFTC data shows - Monday, May 14, 2012
- Large Speculators maintaining massive short Euro bets, latest CFTC data shows - Tuesday, May 08, 2012
- IMM Currency Speculators cut bets long British Pound Sterling, latest CFTC data shows - Monday, April 30, 2012
- Large speculators increased bets short Euro, latest CFTC data shows - Tuesday, April 24, 2012
- Large specs trimmed long Aussie dollar bets, latest CFTC data shows - Tuesday, April 10, 2012
About the author
Paul Kavanaugh is a Commodity Broker, Analyst and Trading Strategist with over 17 years of experience educating and offering services to individual investors. He specializes in risk management that helps clients tap the leverage available in the commodity futures markets. He joined PFGBEST in 2005 from Vision/Whitehall/Super Fund Financial Group where he served for three years. Before that he was with MF Global and its predecessor firm Fox Investments/RCG. For more than 14 years, Mr. Kavanaugh has published a daily newsletter, The Trendsheet, which focuses on current technical and seasonal analysis of various markets. It is available for all customers and prospects at www.pfgbest.com/research. His currency market expertise spans his entire career, from his start as industry celebrity Jake Bernstein’s broker from 1993 to 2000. There, Mr. Kavanaugh learned the specific methods he teaches and trades today. His courses are available through PFGBEST webinars, and he has often provided live weekly market commentary from the trading floor of the Chicago Board of Trade and he has created and conducted technical analysis web seminars for various Chicago exchanges. His television appearances are frequent and varied. For a number of years, he was a market commentator for local Channel 26 live from the exchange floor as part of the programming for "Stock Market Observer" with emphasis on the impact of foreign exchange and other economic factors driving overall financial market moves. Mr. Kavanaugh earned his Bachelor’s in Economics from Albion College in Michigan and immediately began trading and brokering in futures upon graduation. He is also a registered Commodity Trading Advisor (CTA). Paul Kavanaugh
Sr. Currency Markets Analyst Phone: 1-888-439-6033
Email: pkavanaugh@pfgbest.com PFGBEST is among the largest non-clearing U.S. Futures Commission Merchants, with customers, affiliates and brokerage offices in more than 80 countries. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, market research, and direct online futures trading through its BESTDirect® platform, and numerous other platforms and applications
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