{"id":403503,"date":"2010-03-08T08:06:00","date_gmt":"2010-03-08T13:06:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:404738"},"modified":"2010-03-08T08:06:00","modified_gmt":"2010-03-08T13:06:00","slug":"euro-gets-relief","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/403503","title":{"rendered":"Euro gets relief"},"content":{"rendered":"<p>The Euro finally saw some relief as traders did not bring their net short position to another all-time high, according to U.S. Commodity Futures Trading Commission data up to March 2, 2010. <\/p>\n<p>The net short Euro position fell to 66,700 contracts, or US$11.4-billion, providing more evidence that the foundation for stabilizing the currency is being laid, Scotia Capital currency strategist Camilla Sutton said Friday after the figures were released.<\/p>\n<p>There is, however, no shortage of bearish sentiment as the Euro remains the largest net short position held against the U.S. dollar. In fact, gross shorts outnumber longs by a ratio of 3 to 1. At the same time, any sentiment shift could quickly lead to short covering, Ms. Sutton wrote in a note.<\/p>\n<p>Meanwhile, the net British pound position climbed to a new record of 67,600 contracts, or US$6.3-billion. This demonstrates that although bearish sentiment is stabilizing towards the Euro, it continues to grow against the pound as the jump came almost exclusively from the short side. The ratio of gross shorts to long stands at 6:1.<\/p>\n<p>Sentiment towards the Canadian dollar is heading in the opposite direction, with the net long position climbing by nearly 10,000 contracts to 38,300, or US$3.7-billion. Ms. Sutton suggested that a similar move for the Australian dollar shows that commodity currencies continue to see a positive sentiment shift.<\/p>\n<p>Increases in the net long Canadian dollar, Japanese yen and Australian dollar and the reduction in Euro shorts, created a decline in the net long U.S. dollar position. This serves as an early signal that the U.S. dollar index might have seen a temporary top, the strategist added.<\/p>\n<p><a href=\"mailto:jratner@nationalpost.com\">Jonathan Ratner<\/a> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=404738\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Euro finally saw some relief as traders did not bring their net short position to another all-time high, according to U.S. Commodity Futures Trading Commission data up to March 2, 2010. The net short Euro position fell to 66,700 contracts, or US$11.4-billion, providing more evidence that the foundation for stabilizing the currency is being [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-403503","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/403503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=403503"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/403503\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=403503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=403503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=403503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}