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Apr 19 - 05:55 PM

RPT - BUZZ-IMM: USD Net Spec Long Rises As Hawkish Fed View Stirs Heavy EUR, GBP Sales

By Paul Spirgel  —  Apr 19 - 05:01 PM

Repeat with no changes

  • USD Net USD G10 long rose in Apr 10-16 period; $IDX +2.04%

  • Hawkish Fed outlook, no hurry to cut lift USD on rate divergence

  • EUR soft on ECB and BoE early cuts; yen rates steady near zero

  • EUR$ -2.20%, specs -20,499 contracts now long 12.2k June ECB cuts seen

  • $JPY +1.94%, specs -3.468 contracts now -165,619k; specs target 155

  • GBP$ -1.96%, specs -19,633 contracts now +8,619 early BoE cuts weigh on GBP

  • $CAD +1.91%, specs -29,430 contracts now -83k less dovish Fed weighs on CAD

  • AUD$ -3.39%, specs -8,742 contracts now -101k, low China growth weighs on oz

  • BTC -8.64% specs -210 contracts now -363; despite recent weakness BTC +53%

Source:
Refinitiv IFR Research/Market Commentary

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