Weekly Fundamentals 20 Sept 2015
This week has little in the way of data with all focus in Euroland and the US.
On Friday we have GDP number which is expected to show a growth of 3.7%.
COT data shows that large commercials decreased their net short position in the US$ Index from 59,722 to 46,316. We therefore maintain our position of SLIGHTLY BEARISH.
EURO: Today we have the continuation of the Greek tragedy when Greeks are once again asked to vote. It is expected that SYRIZA will cling to power with a reduced majority.
On Thursday we have German IFO Business Climate which is expected to fall from 108.3 to 107.8 and Targeted LTRO which is the total value of money the ECB will create and use to loan to Eurozone banks.
COT data for the Euro shows that large commercials slightly decreased their net long position from 108,445 to 102,410. We therefore maintain our position of SLIGHTLY BULLISH.GBP: There is no data for the GBP this week.
COT data for GDP shows that large commercials halved their net long position from 30,908 to13,699. We therefore amend our stance from BULLISH to SLIGHTLY BEARISH.
YEN: Only one item for the Yen this week which is Tokyo Core CPI on Thursday expected to come in at -0.2%.
COT data shows that large commercials substantially increased their net long position from 21,102 to 39,559. We therefore amend our stance from BEARISH to SLIGHTLY BULLISH.
AUD: There is no data for the AUD this week.
COT data shows that large commercials decreased their net long position from 84,684 to 66,468. We therefore continue to remain BULLISH.
CNY: Only one item for the CNY which is the Manufacturing PMI number on Tuesday expected to show a small rise from 47.3 to 47.6.
There is no COT data for the CNY.
OTHER COT DATA OF NOTE:
GOLD: This week we see that large commercials decreased their net short position slightly from 55,979 to 32,979. We therefore change our stance fromSLIGHTLY BULLISH to BULLISH.
SILVER: This week we see that large commercials have reduced their net short position from 25,560 to 21,357. We therefore amend our stance from SLIGHTLY BEARISH in the very short term to NEUTRAL.
THOUGHTS FOR NEXT WEEK
For those who want to join the lucky ones receiving real time, accurate and 100% honest trade signals please visit and subscribe here.Stay nimble. Good luck trading.
DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Investors considering opening a self-trading account or investing in the TFF Capital Pool, should limit their exposure to maximum 10% of their investment capital.
Eligibility for participation in the capital pool is subject to final determination and acceptance by TFF.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.