What the speculators are doing with the USD

Ok.

When speculators (non commercial bank traders) take a certain position, especially when it gets to the extremes (either long or short), it could serve as a useful contrarian indicator. Here is a series of charts for your perusal. All charts current as of Monday 23rd of June 08.

Anyhow, this first chart is the TOTAL net positions speculators have against the USD in all currencies. As you can see, speculators are now net long the USD.

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This second chart is the breakdown of what the speculators are long and short. They are very long on the AUD And Mexican Peso (MXN). While short on the GBP.

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This third chart is the net position in the "carry trade". As you can see, it has pretty much been unwound since '07.

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Finally. The net positions for silver. Not too long, not too short. No flashing buying indicator.