Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, Feb 4, 2014:

  • EUR net short 13K vs long 14K prior
  • JPY net short 77K vs short 86K prior
  • GBP net long 10K vs long 22K prior
  • AUD net short 56K vs short 66K prior
  • CAD net short 60K vs short 63K prior
  • CHF net long 2K vs short 1K prior

That’s the second week in a row that euro traders have been wrong-footed. The specs keeps flipping and the market goes the other way. There are some very frustrated futures traders out there.

Otherwise, the paring of yen shorts leaves room for USD/JPY to move up.