| ● Large speculators (non-commercials) in the
Aussie (Australian dollar futures) and Euro futures made the most significant
moves in the FX market, according to the latest CFTC IMM report through last
Tuesday (June 20th). Euro's 2-month
short-covering trend (for large specs) came to an abrupt halt as gross shorts
exploded by roughly 50%. The Euro's net long mark had reached levels not seen
since October 2013 prior to last week's turnaround. Large speculators in
Crude Oil futures continued to add short positions, to near the 300K contract
mark once again. While Oil prices have
dipped to fresh 2017 lows, gross short positions and the overall net long
position have not reached extremes yet. That said, both have inched closer to
levels seen back in May and previously
in 2016, suggesting a temporary low could be near after perhaps the next
thrust lower to 40. Both Nasdaq 100 & E-mini S&P futures saw large
speculators reduce long exposure, highlighting a significant drop in open
interest. |
