Speculators' Futures FX Positions
by Ashraf Laidi
The weekly figures on traders' futures commitments obtained from the Chicago Mercantile Exchange's International Monetary Market shed valuable light on the developing flows pursuing one currency versus another. The data are broken down into commitments by commercial players (usually made up of businesses aiming to hedge currency risk) and speculators (traders buying and selling contracts purely for reaping the gains from price changes). The figures, expressed in number of contracts, show the buyers and sellers of futures' currency contracts and total open interest.
AUDNZD Looking for a Turn
AUDNZD is known as the battle of the FX high yielders, but the . more..
from my analysis of the chart it appears that cable speculators (non commercial) are at record net shorts since 04. The chart also shows that speculators anticipate moves in advance where large moves are due. So it will be quite interesting to see how thigs pan out. Lots of anaysts are expecting a short sqeeze here and a move higher in cable but they forget about fundamentals in UK being unfavourable at present. Both political and economically. I am more in favour of the speculators anticipating a huge drop i cable.