Data Diary

The weekly Commitment of Traders report released overnight in the US (here) notes that large traders continue to sell down the Aussie dollar: We’ve been tracking futures flows to see whether these ‘large traders’ (read ‘hedge funds’) lead market direction. In that context, we first noted that these traders were selling the AUD in October. [...]

Since we last looked (here), the AUD has climbed to the mountain-top and turned back. Large trader positioning continues to contract but, as of last week, with less conviction. Over recent history, when these guys have slowed their selling it has enabled the currency to regain its footing. The caveat I guess is in the [...]

I’m a conspiracy theorist at heart, partly because it adds a little spice to my otherwise safari-suit wearing ways, and partly in the hope that our leaders are smarter than their actions sometimes suggest. With the near universal condemnation of Ben Bernanke and his FOMC chums, it’s left to us conspiracy theorists then to once again [...]

Some interesting currents developing in markets – with credit spreads pulling in different directions, equity market volatility creeping higher, while the USD remains front and centre of the risk trade universe. Hopefully, we’ll get some time to review the first two over the next couple of days, but our immediate attention is on currencies. One [...]