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Dollar longs at two-month high – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Deutsche Bank, notes that the speculators had increased their bullish dollar exposure significantly for the third consecutive week and implied USD longs as a fraction of open interest rose to a two-month high of 33%, up from 26% in the previous week.

    Key Quotes

    “USD longs were most aggressively built against JPY, GBP, AUD, and MXN. Sentiment in GBP flipped from marginal net longs to net shorts as the currency saw a massive extension in gross shorts. Similarly, JPY, AUD and MXN also witnessed a significant addition of gross shorts. Meanwhile, net shorts in EUR and CHF extended, whereas CAD shorts were marginally pared. Elsewhere, sentiment in NZD deteriorated modestly as net longs were trimmed.”

    “Traders in Financial Futures data show that leveraged funds have added implied USD longs considerably, while asset managers have only added at the margin. Leveraged funds added large amount of shorts in EUR and JPY, whereas asset managers marginally pared their net shorts. Sentiment in MXN turned bearish after the leveraged funds community added decent amount of shorts to reverse their position from net long to net short.”

    “By contrast, the asset manager community improved the sentiment by adding sizeable amount of longs. In GBP, leveraged funds reduced their bullish bets after adding a significant amount of net shorts. Meanwhile, asset managers increased their bearish exposure by extending their net shorts modestly. As for CAD, leveraged funds reduced their net shorts, whereas asset managers moderately increased their net shorts.”
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