MNI: China CFETS Yuan Index Up 0.98% In Week of Oct 11

MNI: PBOC Net Injects CNY19.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.0723 Mon; +3.26% Y/Y

CHINA PBOC CONDUCTS CNY19.5 BLN VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.0723 MON VS 7.0731

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.20B BSL

Economic Data Calendar 11/10/2024

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: A$ Longs Added Amid China Stimulus Hopes - CFTC Positioning

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

Friday's CFTC positioning update in FX provided mixed trends between leveraged funds and asset managers (for the week ending Oct 8). 

  • Outside of adding to CAD shorts, leveraged funds mostly sold USDs, see the table below. Indeed leveraged longs in AUD were at their highest since 2021. For yen it presents a similar backdrop in the leveraged space, while EUR net longs also returned.
  • In contrast, asset managers moved the opposite way for JPY, EUR and GBP, with longs against these currencies cut in the week ending Oct 8.
  • AUD stands out though in terms of fresh longs being added for asset managers. Indeed this segment was net long last week for the first time since early 2023.
  • This may have reflected hopes around China stimulus measures, which have been curtailed somewhat in the past week or so. The prior week's hawkish RBA backdrop, at least relative to other major cetnral banks may have also helped.  

Table 1: CFTC Positioning (Week Ending Oct 8 2024) 

Keep reading...Show less
178 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Friday's CFTC positioning update in FX provided mixed trends between leveraged funds and asset managers (for the week ending Oct 8). 

  • Outside of adding to CAD shorts, leveraged funds mostly sold USDs, see the table below. Indeed leveraged longs in AUD were at their highest since 2021. For yen it presents a similar backdrop in the leveraged space, while EUR net longs also returned.
  • In contrast, asset managers moved the opposite way for JPY, EUR and GBP, with longs against these currencies cut in the week ending Oct 8.
  • AUD stands out though in terms of fresh longs being added for asset managers. Indeed this segment was net long last week for the first time since early 2023.
  • This may have reflected hopes around China stimulus measures, which have been curtailed somewhat in the past week or so. The prior week's hawkish RBA backdrop, at least relative to other major cetnral banks may have also helped.  

Table 1: CFTC Positioning (Week Ending Oct 8 2024) 

Keep reading...Show less