Time to short...
Speculators Inching Closer To Turn Their Bets Into Net Euro Long
Speculative traders on the Chicago Mercantile Exchange moved very close to turn their wager into net EUR longs on year-end position adjustments, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders continued to cover their EUR bets slashing their short EUR position by 70% after cutting it by another 5% last week to reach a total of $1.6 billion as of Tuesday. In a parallel move, traders aggressively dumped USD by increasing their short USD bets by 137% to reach a total of $7.6 billion as of Tuesday. Looking ahead, the market will get into a quiet holiday mode next week which unlikely to see any ... (full story)
- Posted: Dec 22, 2012 11:54am
- Submitted by:Category: Fundamental AnalysisComments: 13 / Views: 2,265