Speculators End The Year Betting On A Stronger EUR And A Weaker USD

on , from efxnews.com

Smart money should bet on a stronger EUR and a weaker USD - that is the message from the speculative traders on the Chicago Mercantile Exchange in the last IMM report for the year, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders continued to cut their EUR bets slashing their short EUR position by 77% after cutting it by another 70% last week to reach a total of $420 million as of Tuesday (smallest short EUR position for the year). In a parallel move, traders slightly added to their short USD position by increasing it by 1.8% to reach a total of $7.7 billion ... (Read the full story)

Forex Weekly Outlook Dec 31 2012 – Jan 4 2013

on , from forexcrunch.com

The US dollar eventually remained almost unchanged in thin, yet volatile holiday trading. As the page turns to 2013, the calendar gets busy. Will the fiscal cliff be resolved before the 2013? US ISM Manufacturing PMI, US ADP Non-Farm Employment Change are important stepping stones to the US Non-Farm Payrolls which are all major market movers starting this year. Here is an outlook on the main event this week. Last week US unemployment claims edged down 12,000 reaching 350,000 claims but consumer confidence declined more than expected in December reaching 65.1 from 71.5 in November, probably related to ... (Read the full story)