The latest research on FX market speculative positioning suggests the following:
- EUR shorts are at record levels, now more than 70k contracts (remember that the record for EUR longs is around 120k contracts so there could still be a ways to go before the market is totally oversold)
- GBP shorts are approaching the record level of 65k contracts
- The JPY market is almost completely square
- The net long USD position increased to its largest in nearly a year, at almost 70k contracts
- The AUD longs increased by over 40% but from a pretty low base
