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IMM Data: JPY net longs increase – Goldman Sachs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Goldman Sachs, notes according to the CFTC commitment of trader’s report of January 12, 2015, JPY net longs have shown significant increase.

    Key Quotes

    “In this week’s CoT report, USD net long positioning decreased $3.2bn to $27.3bn. JPY net longs added $2.3bn to $2.7bn. This is the largest JPY net long positioning since October 2012. We often see JPY stronger on higher China risk, and the GS China Growth Basket continued to slide further to new post-crisis lows this week, suggesting continued and increasing concerns about China. We continue to expect further easing from the BoJ in the coming months and believe the market has been too quick to write off the additional measures announced at the last BoJ meeting.

    EUR net shorts decreased by $1.7bn to $19.9bn this week. This is the largest move in EUR net shorts since the last ECB meeting on December 3. Nevertheless, EUR net short positioning currently stands within $4.4bn of where it was heading into the ECB meeting. This differential remains small compared to the $15.4bn increase in EUR net shorts in the 6 weeks ahead of the monetary policy meeting.”
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