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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
- Friday's CFTC FX positioning update showed antipodean and commodity-tied currencies benefiting from a build in the net position, while the sliding position in the USD Index stuck, putting markets nearest to neutral since '21.
- The pullback in the USD Index net position extended in last week's data, tipping the total net non-commercial futures position to the lowest since mid-2021. The shift in late Dec reversed the brief build in positioning from September, and follows the dovish pivot from the Fed on Dec13.
- Net shorts in AUD, NZD and CAD were most notably trimmed, leaving the net short at 27.3% for AUD, 11.5% for CAD and broadly flat for NZD.
- The EUR net position was unchanged, at a net long of 119,476 contracts - much improved from the 52w low from October last year, however still short of the trailing 12m average.
- Both the JPY and CHF saw the net position deteriorate over the past week, keeping markets net short both currencies.
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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