Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday September 5 2014:
- EUR net short 162K vs short 151K prior
- JPY net short 118K vs short 103K prior
- GBP net long 10K vs long 15.5K prior
- AUD net long 49K vs long 42K prior
- CAD net long 13K vs long 6K prior
- CHF net short 13K vs short 13K prior
- NZD net long 10K vs long 12K prior
- Full report
It was tough to sell EUR/USD ahead of the ECB because it had fallen so far so fast but futures markets traders were on the right side of the trade. The question now is: How many of them will be taking profits now? Or, is there anyone left to keep the selling going?
My guess is that hedgers weren’t ready for this and that some significant flows are coming. Whether we get a bounce/squeeze before then is a tougher question.
Euro CFTC positioning
