Intraday Market Thoughts

Archived IMT (2008.12.29)

by Ashraf Laidi
Dec 29, 2008 14:35

The intensity of the euro's ascent is also emerging among the latest commitment reports of futures speculators, where the number of EUR short contracts vs. the USD fell by more than five folds from the record high shorts attained in mid September. The next report will likely show EURUSD interest to have finally entered net long territory for the first time in 5 months, greasing the wheels for the $1.4650 target mentioned in today's article. Consequently, the euro's 17% jump over the last 3 months is clearly a dollar story, but the euro part of the story must not be ignored as the tale of EURJPY illustrates in the 15% rise in the past 2 months. For the LATEST on CME FUTURES, please visit the Speculators' Futures FX Positions in the ANALYTICS section of this website.


Latest IMTs