CFTC commitment of traders report was released on Friday (21st September) and cover positions up to Tuesday (18th September). COT report is not a complete presenter of entire market positions since the future market is relatively smaller compared to the 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 Mexican peso and the euro.
Short positions decreased:
- The short positions in the Swiss franc declined for the fourth consecutive week, and by 16,912 contracts to -18.4K contracts.
Short positions increased:
- The short positions in the Australian dollar rose for the second consecutive week, and by 23,691 contracts to -68K contracts.
- The short positions in the Japanese yen rose for the 3rd time in 8 weeks and by 9,869 contracts to -63.7K contracts.
- The short positions in the Canadian dollar rose for a fourth consecutive week and by 3,169 contracts to -30.1K contracts.
- The short positions in the British pound sterling rose last week and by 18,079 contracts to -79.3K contracts.
- The short positions in the New Zealand dollar rose last week and by 9,342 contracts to -32K contracts.
Long positions increased:
- The long positions in the Mexican Peso rose for the second consecutive week and by 25,977 contracts to +40.5K contracts.
Long positions decreased:
- The net long positions in the euro declined last week by 9,504 contracts to +1.7K contracts.