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EUR shorts still on the increase

By   || March 1, 2010 at 03:34 GMT
|| 11 comments || Add comment

The latest research on FX market speculative positioning suggests the following:

  • EUR shorts are at record levels, now more than 70k contracts (remember that the record for EUR longs is around 120k contracts so there could still be a ways to go before the market is totally oversold)
  • GBP shorts are approaching the record level of 65k contracts
  • The JPY market is almost completely square
  • The net long USD position increased to its largest in nearly a year, at almost 70k contracts
  • The AUD longs increased by over 40% but from a pretty low base
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Category: All, Asia
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11 Responses to “EUR shorts still on the increase”

  1. essenza on March 1st, 2010 03:46 GMT

    Morning Sean

    I still don;t get what do u mean by point 1, Eur shorts 70 and Eur long 120k. Does it mean that some Euro bulls have not liquidate their position? so EU still have plenty of room for down move.

  2. Sean Lee on March 1st, 2010 04:00 GMT

    Hi Donald. Some months ago when the EUR was all bullish, the EUR long position got to a level of around 120k contracts which was the record. Now the market is bearish and the shorts have gotten to a record level of 70k contracts but what I’m saying is that they still have a lot of room to move before they reach the extreme levels which the longs had some months ago.

  3. Chngster on March 1st, 2010 04:03 GMT

    This is good information, it’s almost like a ‘state of the union’ address. How often does this come out – monthly? Bi-weekly?

    My current thoughts are to long AUD/GBP in anticipation of a rates rise tomorrow.

    I would like to set forth the hounds of war on GBP/JPY but having difficulty finding a cheap reenter a short….I want 136.5 and above, but whether the market will let me have it is a question better reserved for after the London open?

  4. Sean Lee on March 1st, 2010 04:19 GMT

    Hi Chngster, I get the info once a week from one of the bigger banks

  5. Tajul Akbar Bin Ismail on March 1st, 2010 04:32 GMT

    Cracks appearing in euro currency union … http://www.theglobeandmail.com/report-on-business/economy/cracks-appearing-in-euro-currency-union/article1484698/

  6. Chngster on March 1st, 2010 04:38 GMT

    Thanks mate

  7. Chngster on March 1st, 2010 04:40 GMT

    By the way, I reiterate again the service you guys provide is invaluable. If this ever turns into a subscription service I would be more than happy to oblige.

  8. azwan on March 1st, 2010 04:40 GMT

    terima kasih tajul … keep up the good jobs hehe

  9. JR on March 1st, 2010 04:43 GMT

    Mere mortals like us can get the info Friday after hours from Reuters:
    http://www.reuters.com/finance/currencies

  10. JR on March 1st, 2010 04:50 GMT

    French Econ Minister thinks CDS on sovereign debt should be regulated or banned:
    http://www.reuters.com/article/idUSLDE61R09K20100228
    Finally, I agree with the French about something! :) The people who sell CDSs aren’t vetted to see if they have the money to cover their positions. They dynamically hedge their portfolios and, in a crisis, exacerbate the short selling and create systemic risk. It’s an issue that needs to be addressed- either by regulation or by a ban. So much for the idealistic, pie-in-the-sky, fluffy republican “free markets work all the time in every situation” rhetoric…

  11. Tajul Akbar Bin Ismail on March 1st, 2010 04:53 GMT

    azwan, mana buku … be back for European session. Iceland stares into Icesave abyss … http://www.reuters.com/article/idUSTRE61P21D20100226

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