CFTC commitment of traders report was released on Friday (22nd June) and cover positions up to Tuesday (19th 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 a crucial picture of how key participants are looking at future moves.
Key highlights:
Market participants are net short in all currencies against the dollar except the euro.
Long positions decreased:
- The long positions in the euro declined for a ninth consecutive week and by 52,107 contracts to +36.1K contracts.
Short positions decreased:
- The short position in the Canadian dollar declined for the second consecutive week and by 974 contracts to -14K contracts.
- The short positions in the Mexican peso declined last week by 10,435 contracts to -11.3K contracts.
- The short positions in the Swiss franc declined for the third consecutive week and by 5,288 contracts to -32K contracts.
Short positions increased:
- The short positions in the Australian dollar declined last week by 27,864 contracts to -43.1K contracts.
Position shifted from long to short:
- The net position in the British pound reverted from positive to negative last week. The net short positions rose by 30,175 contracts to a net position of -19.2K contracts.
- The net position in the Japanese yen reverted from positive to negative last week. The net short positions rose by 40,614 contracts to a net position of -35.6K contracts.
- The net position in the New Zealand dollar reverted from positive to negative last week. The net short positions rose by 22,946 contracts to a net position of -15.9K contracts