- The latest IMM data covers the week from 11 to 18 November. While overall positions saw little change, EUR shorts were further reduced while CHF, CAD and GBP shorts were extended. Speculative positions in oil saw a major turnaround as net longs were established.
- The reduction in EUR shorts marks the week's biggest change in currency positions. Since 21 October, EUR shorts against USD have constantly been reduced.
- Net short CHF, CAD and GBP positions were extended, consistent with the moves in the spot rates seen during the time period covered by the week's IMM data.
- The latest IMM data shows a reversal of the substantial negative net oil position. Following the fall in Brent crude oil below USD50/barrel, speculative investors have now again established net long positions.
- Bond market speculative investors reversed the trend from the previous week by positioning for a flattening of the curve - positions in 2-years were sold off, while positions in 10-years were extended.
