EUR net shorts tick higher into ECB – Goldman Sachs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Research Team at Goldman Sachs, lists down the IMM Data, CFTC Commitment of Traders report of March 8, 2016.

    Key Quotes

    “In this week’s CoT report, USD net longs fell $0.7bn to $8.6bn. Positioning changes were mixed across currencies, with speculators adding to EUR and GBP net shorts, but adding to longs in JPY and commodity currencies.

    Reflecting data through Tuesday, EUR net shorts increased $0.6bn to $9.9bn. Overall, speculators added $3.4bn in net EUR shorts in the two weeks ahead of the ECB meeting on March 10, a modest bounce after shedding almost $18bn in EUR shorts in the 3 months after the December 3 ECB meeting. As discussed in our latest FX Views, we think that the ECB’s emphasis on credit easing means Euro downside is less compelling in the near term.

    Meanwhile, JPY net longs continue to build, adding another $0.6bn in net longs on the week. After a $15bn swing since mid-November, this is easily the highest net long positioning since early 2012.”
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