Latest Commitment of Traders positions (FX) as of February 7th 2017

CFTC commitment of traders report was released on Friday (10th February) and cover positions up to Tuesday (7th February). 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, New Zealand dollar, and the Canadian dollar.

Shorts decreased:

• The Mexican peso saw the biggest decrease in the net-short positions, where net-shorts decreased by 4,720 contracts to -58.5K contracts.
• The net short position in the Japanese yen declined by 3,271 contracts to -55K contracts.
• The Swiss franc registered a covering of shorts in the tune of 2,519 contracts that brought the net position to -14.6K contracts.
• Speculators reduced their net shorts by 762 contracts in the euro; thus bringing the net position to -44.9K contracts.

Longs increased:

• The Canadian dollar longs were increased by 5,078 contracts, pushing the net position to +8.55K contracts. Longs increased for third consecutive week.
• The Australian dollar longs were increased for third consecutive week and by 4,692 contracts to +16.7K contracts.

Shorts increased:

• The British pound is the only counter, where shorts increased by 2,767 contracts to -64.5K contracts.

Position flipped from short to long:

• New Zealand dollar longs were increased in such a way that the net position flipped from short to long.  The net longs were increased by 2,867 contracts to +1.8K contracts.