Tuesday, September 22, 2015

CFTC Commitment of Traders Report - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank offered the CFTC Commitment of Traders Report and IMM Net Speculators’ Positioning as at 15 September 2015.

Key Quotes:

"EUR shorts continued to climb last week ahead of the September FOMC in a sign that risk appetite may have been building. That said, the softer tone of EUR/USD in the spot market ahead of the Fed policy meeting was reversed after the event.

Net USD longs continued to drop ahead of the Fed meeting last week coincident with expectations that rates were likely to be left on hold.

Net sterling shorts were reduced last week. Firm UK wage data means that the BoE policy hawks retain a lucid argument, though market expectations regarding the timing of the first BoE rate hike have been pushed back.

JPY shorts increased again last week though they remain well off their recent highs. Speculation that the BoJ could ease again this year could temper support for the yen going forward.

CHF net positions have pushed back into positive territory for the first time in seven weeks. Talk of more policy action from the ECB could increase the risk that the SNB is forced into taking further policy action to offset demand for the CHF.

Net AUD shorts dropped lower but remain at elevated levels. RBA Governor Stevens indicated last week that rates were likely to remain on hold for now. CAD shorts increased."

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