Latest Commitment of Traders positions (FX) as at May 2nd 2017

CFTC commitment of traders report was released on Friday (5th May) and cover positions up to Tuesday (2nd 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 Australian dollar.

Shorts decreased:

• The short positions in the euro declined by 19,242 contracts last week and the current position stands at -1.6K contracts.
• The British pound saw another big decrease in the net-short positions, where net-shorts decreased by 9,818 contracts to -81.4K contracts. Shorts decreased for a sixth consecutive week.
• The shorts in the New Zealand dollar declined by 3,434 contracts last week, which brought the net position to -12K contracts.

Shorts increased:

• The Canadian dollar registered the biggest increase in the short positions among its peers as the short positions got increased by 5,062 contracts to -47.7K contracts.
• The Japanese yen shorts got increased by 3,614 contracts which pushed the net position to -30.5K contracts.
• The Swiss franc shorts got increased by 391 contracts that pushed the net position to -17.7K contracts.

Long position covered:

• The Mexican peso longs were covered in the tune of  923 contracts that pushed the net position to +15.1K contracts.
• The long positions in Australian dollar got decreased marginally last week by 27 contracts that pushed the net position to +42.7K contracts.