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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.
CFTC
- A notable improvement in the GBP net position as per Friday’s CFTC data, with ~16k net contracts added to improve the net position by 8.1% of open interest. This shifted the net long to over 50k, nearing the highest level of the past year.
- Markets may also be weary of the bump higher in the NZD net position which, while smaller than the improvement in GBP, puts the positioning Z-score for NZD at the highest among all currencies surveyed. Markets added just over 2,500 in the week ending Feb 13th, putting the net position at 8.1% of open interest – just below the 52w high of 11.5%.
- Improvement in NZD net position comes alongside the shifting views on RBNZ among the sell-side in recent weeks, with ANZ seeing two further hikes ahead, and BNZ delaying their call for easing in New Zealand.
- The EUR net position continue to fade, albeit at a slower pace. Markets trimmed another 9k contracts from the net long, putting the total position at the lowest in 12 months. This tilted the positioning Z-score to -2.32, the lowest among the panel of currencies.
- MXN net improved by 4.6% of open interest, while JPY was the net loser, as markets added 27k contracts to the net short.
- Full update here:
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.
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