Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, July 15 2014:
- EUR net short 63K vs short 59K prior
- JPY net short 63K vs short 66K prior
- GBP net long 39K vs long 42K prior
- AUD net long 40K vs long 37K prior
- CAD net long 16K vs long 10K prior
- CHF net short 6K vs short 7K prior
- NZD net long 15K vs long 14K prior
There isn`t much to take away here with most of the positions the same. I’m surprised to see the market back away from cable longs so quickly, maybe that’s a reflection of the City’s dislike of the pound.
The market has also quickly shifted into Canadian dollar longs and with USD/CAD pushing higher, you could see a quick squeeze, or maybe that already came in the spike up to 1.0794 on Wednesday.
CAD net futures position