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Saturday, May 18, 2024

JPY Sentiment Slightly Improves Among Asset Managers

Key Takeaways:

  • Asset Managers were more bullish on the Japanese Yen, however the main trend of sentiment remains bearish JPY.
  • The overall market sentiment remains mixed. Leveraged funds, which include hedge funds and other speculative traders, decreased their long positions by 5,767 contracts and reduced their short positions by 6,047 contracts.
  • The market remains cautious about the future direction of the USD/JPY pair.

Commitment of Traders Report

The latest Commitments of Traders data released by the Chicago Mercantile Exchange shows a slight increase in sentiment for the Japanese Yen (JPY) among asset managers and institutional investors. This comes as the USD/JPY pair experienced a decline of 3.39% last week.

According to the COT report, asset managers and institutional investors increased their long positions in JPY futures contracts by 2,024 contracts while reducing their short positions by 7,341 contracts. This change in positioning suggests a more bullish outlook on the Japanese currency among this group of traders. However, the main trend of sentiment continues to remain bearish on JPY among asset managers.

COT Sentiment Asset Manager JPY

However, the overall market sentiment remains mixed. Leveraged funds, which include hedge funds and other speculative traders, decreased their long positions by 5,767 contracts and reduced their short positions by 6,047 contracts. This indicates a slight reduction in bearish bets on the JPY by leveraged funds.

COT Sentiment Leveraged Funds JPY

The nonreportable positions, which represent small traders and speculators, decreased their long positions by 5,464 contracts and increased their short positions by 3,045 contracts. This indicates a more bearish sentiment among smaller market participants.

Overall, the COT data reveals a slight improvement in sentiment towards the Japanese Yen among asset managers and institutional investors. However, the mixed positioning of other trader categories suggests that the market remains cautious about the future direction of the USD/JPY pair.

Lazarus
Lazarushttps://ljlnews.com
Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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