IMM Currency Specs added to massive short Euro Bets, latest CFTC data shows

5/14/2012

Currency Analysis

By Paul Kavanaugh, PFGBEST

1-888-439-6033

pkavanaugh@pfgbest.com

-34th straight week of net long US dollar bets

-Euro zone concerns again causing risk aversion

-Large speculators added to massive net short Euro bets

-Large speculators cut more than half long Australian dollar bets

CFTC data released Friday May 11th shows IMM currency speculators increased bets long of the British Pound Sterling, and more than doubled bets against the Euro. The most recent Commitments of Traders data shows some significant percentage changes in speculative positions in the currencies from the prior week including the following:

Commitments of Traders Data

(Non-Commercial Net Position Data)

A significant 35.88% increase from 44,224 to 60,095 contracts net long of the Canadian dollar;

A minor 0.88% decrease from 16,641 to 16,494 contracts net short of the Swiss Franc;

A sizeable 53.62% increase from 16,493 to 25,339 contracts net long of the British Pound;

A noticeable 18.09% decrease from 50,173 to 41,093 contracts net short of the Japanese Yen;

A massive 34.57% increase from 106,990 to 143,984 contracts net short of the Euro;

And a potential game changing 51.98% decrease from 52,280 to 25,104 contracts net long of the Australian dollar.

(Source CFTC.gov)

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Paul Kavanaugh
PFGBEST Research Team
pkavanaugh@pfgbest.com