Speculative positions In the week to October 17.
- JPY Short 101K – Unchanged
- EUR Long 90K vs 98K (previous week)
- GBP Long 5K vs 15K “
- AUD Long 62K vs 69K “
- NZD Long 7K vs 6K “
- CAD Long 75K vs 76K “
- CHF Short 5K vs 4.3K “
It has always been a major ‘gripe’ with me, why in this age of instant data collection they cannot give us more than one update a week and also why the figures are two days old when they eventually post them .
Not much to glean from this . EUR positioning is still heavily long going into ECB and that could make things interesting, plenty to unwind if we get a dovish message. A few NZD traders must have been caught out and were positioned backing the wrong horse after the market reaction to the new government coalition. The cut in GBP longs seems sensible. Could leave the market vulnerable to a squeeze (higher) in the coming weeks if this continues .
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