CFTC commitment of traders report was released on Friday (1st July) and cover positions up to Tuesday (28th June). COT report is not a complete presenter of entire market positions since the future market is relatively smaller compared to Spot FX market. Nevertheless, it presents crucial picture on how key participants are looking at future moves.
Key highlights:
Market participants are net short in all currencies against Dollar, except for Yen, Franc, and Loonie.
Shorts increased:
- Euro is the only counter that saw an increase in net short position but that only marginal by 588 contracts -61.9K contracts.
Shorts covered:
- British Pound saw the biggest short covering of 9,236 contracts to -42.7K contracts.
- Australian dollar registered second biggest short covering by 4,486 contracts. The net short position now stands at -1.9K contracts.
- Mexican Peso saw third biggest short covering and in the tune of 3,553 contracts, which brought the net short position to -65.3K contracts.
- New Zealand dollar shorts were marginally covered by 219 contracts and bringing net position to -2.8K contracts.
Longs increased:
- Japanese Yen saw the biggest increase in net long positions in the tune of 7,454 contracts, bringing net position to +59.7K contracts.
- Canadian dollar longs were increased by 5,354 contracts to +7.9K contracts.
- Swiss Franc longs were increased by 4,486 contracts to +10.9K contracts.


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