MNI China Daily Summary: Monday, November 18

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CFTC: Markets Built USD Exposure, Trim MXN Long in Wake of Election

CFTC
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  • Markets aggressively trimmed MXN exposure in the wake of the election results, with the week-ending 12 Nov showing the net long MXN position dropping by 11k contracts to put the net position at 13.7% of open interest, and not too far off 5.9%, the 52w low. This puts the positioning Z-score at -1.69, the lowest among all currencies surveyed.
  • Elsewhere, markets built the GBP net long, while building the net short JPY, NZD, CAD and CHF position, meaning markets built their exposure to the USD alongside the broad greenback rally that accompanied the election results.

Full dataset here: 

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  • Markets aggressively trimmed MXN exposure in the wake of the election results, with the week-ending 12 Nov showing the net long MXN position dropping by 11k contracts to put the net position at 13.7% of open interest, and not too far off 5.9%, the 52w low. This puts the positioning Z-score at -1.69, the lowest among all currencies surveyed.
  • Elsewhere, markets built the GBP net long, while building the net short JPY, NZD, CAD and CHF position, meaning markets built their exposure to the USD alongside the broad greenback rally that accompanied the election results.

Full dataset here: