The weekly data from the CFTC Commitments of Traders report, which is collected at the close on Tuesday. It shows speculative futures positioning.
- JPY net short 71K vs 64K last week
- EUR net long 27K vs 21K prior
- AUD net long 85K vs 97K prior
- CHF net long 4K vs 6K prior
- GBP net long 10K vs 18K prior
- NZD net long 22K vs 24K prior
- CAD net long 35K vs 58K exp
Yen shorts growing once again after a small retracement.
The big takeaways for me are the euro and pound. Euro longs are growing but there is tremendous room for more. Along the same lines, the speculative market hasn’t even got involved in GBP shorts yet. If specs begin to pile it, cable could hit 1.50.
Not the tiny positions in CHF. From that, I would say that speculators are confused and unsure what’s driving the moves.
