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Old 11-04-2007, 03:38 PM
Black.day Black.day is offline
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CFTC Commitment Data Released 2 Nov for 30 Oct
CAD/USD Net Long 68,831 from Net long 71,323 the Week of Oct 23
CAD longs continue to pare their long positions but this did not prevent USD/CAD from reaching a fresh record low of 0.9327 today on a sharp rise in jobs in Canada. Risk remains for a CAD correction targeting 0.9600.

CHF/USD Net Long 10,790 from Net Long 2,150 the Week of Oct 23
Bearish USD sentiment continues, fuelling a move under 1.1494 today. CHF longs are the highest since July 2004 despite CHF rates still under USD rates, increasing the chance for a USD/CHF bounce back to 1.1600.

GBP/USD Net Long 52,928 from Net Long 45,421 the Week of Oct 23
Longs are the highest since August but still below the year"s highs and trend
indicators have only recently turned bullish. Risk for a move through 2.10 barrier options is possible for sterling.

JPY/USD Net Short -9,949 from Net Short -21,354 the Week of Oct 23
USD bearish sentiment continues to cap USD/JPY but deteriorating Japanese
fundamentals is supporting USD/JPY on dips, with carry trade demand still strong. This is seen keeping USD/JPY in a 114-116 range.

EUR/USD Net Long 68,848 from Net Long 69,016 the Week of Oct 23
Longs are still below the highs seen in July, helping fuel the move to fresh
record highs of 1.4528 today. 1.4600 is the next target.

AUD/USD Net Long 46,022 from Net Long 43,653 the Week of Oct 23
AUD/USD longs increased with AUD making fresh 23-yr highs of 0.9343 with room to break above 0.9350 barriers next week given CAD, EUR and GBP moves and expectations of a 25 bp RBA rate hike next week.

NZD/USD Net Long 14,668 from Net Long 19,451 the week of Oct 23
NZD/USD longs have eased, which has aided this week"s renewed push to highs of 0.7730. Despite today"s the fall to 0.7570 option barriers at 0.7750 and 0.7800 remain the upside target.

MXN/USD - Net Long 69,765 Net Long 45,259 the week of Oct 23
As expected, given the limited longs and last week"s rate hike, USD/MXN tested 10.70 pushing lower on bearish USD sentiment. Longs are the highest since June which could see consolidation between 10.63-10.73.
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