Free Trial

MNI FX Pi - AUD Sees Large Swing to Net Long

Friday's CFTC CoT report showed speculators building the net AUD position to a new 52 week high, with the net long now at 12.3% of open interest. This weeks shift from -2,044 to +16,219 was one of the largest among currencies surveyed, boosting the 52w Z-score to 2.65.

MXN also saw a decent bullish swing, with markets building the net long from ~+8,000 contracts to ~+26,000 - this, however, is still well short of the 52w high of ~+170,000 contracts.

GBP, NZD and EUR positions retreated modestly in favour of JPY, CAD and CHF.

MNI's Positioning Indicators show EUR positioning has come off the 2020 extremes but remains highly elevated thanks to the persistence of EUR longs.

JPY, GBP and CAD positioning remains somewhat neutral, but the AUD positioning indicator has received a decent boost from this week's update, extending to multi-year highs.

MNIFXPI2109.pdf

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.