Latest Commitment of Traders positions (FX) as at May 16th 2017

CFTC commitment of traders report was released on Friday (19th May) and cover positions up to Tuesday (16th May). 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 the dollar except the euro, Mexican peso, and the Australian dollar.

Shorts decreased:

• The British pound saw another big decrease in the net-short positions, where net-shorts decreased by 13,803 contracts to -33K contracts. Shorts decreased for an eighth consecutive week.

Shorts increased:

• The Japanese yen registered the biggest increase in the short positions among its peers as the short positions got increased by 23,701 contracts to -60K contracts. Shorts increased for a 3rd consecutive week.
• The Canadian dollar shorts got increased by 11,785 contracts which pushed the net position to -98K contracts. Shorts increased for an 11th consecutive week.
• Swiss franc shorts got increased by 5,966 contracts to -21.2K contracts.
• New Zealand dollar short positions got increased by 1,168 contracts to -11.9K contracts.

Long positions covered:

• The long positions in Australian dollar got decreased for the seventh consecutive week, and by 19,440 contracts that pushed the net position to +6.3K contracts.

Long positions increased:

• The long positions in the euro increased by 15,205 contracts last week that pushed the net position to +37.6K contracts.
• Long positions in Mexican peso increased marginally by 151 contracts which pushed the net position to +70K contracts.