Sunday, March 21, 2010

Euro, It Was Nice Knowin' Ya

From Zero Hedge,
"The most recent CFTC committment of traders report indicates that as of March 16 net speculative euro short positions got clobbered in the past week, and declined by nearly 40%, from the all time record bearish -74,551 to -46,341. Comparably for the Yen,  In the yen, of per March 16, speculative accounts had a net long of +15,197 contracts, another 40% decline from of the prior weeks's +26,288. On March 16, the euro closed $1.3769 compared to Friday's closing levels of $1.3534. In the meantime it was discovered that Europe won't be bailing out Greece after all, so all you speculators who closed out your shorts in anticipation of a squeeze: better luck next time.'

No comments:

Post a Comment