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Sep 20 - 05:55 PM

RPT - BUZZ-IMM: USD Shorts Pared Pre Fed; EUR, AUD, GBP Sold Aggressively, Yen Long Steady

By Paul Spirgel  —  Sep 20 - 04:11 PM

Repeat with no changes

  • USD net spec G10 short dipped $5bn in the Sep 11-17 period; $IDX -0.64%

  • EUR$ +0.82% in period; specs -11,787 contract now +69,6k after ECB -25bp cut

  • EUR, and other major CCY, rose versus USD as Fed 50bp cut odds grew

  • $JPY +0.02%; specs +1,070 contracts now +56.8k, pair rose off sub-140 low

  • GBP$ +0.62% in period; specs -27,309 contracts now +63k

  • BoE less-dovish than Fed particularly after rate decisions has moved higher

  • $CAD -0.08%; specs -4,197 contracts now -73,150

  • Symmetric BoC, Fed rate paths keep CAD steady even w/Fed 50bp rate cut

  • AUD$ +1.56%; specs -26,080 contracts into strength, now -40,122

  • Sellers into strength may be a nod to other central banks following the Fed

Source:
Refinitiv IFR Research/Market Commentary

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