Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday January 20, 2015:
- EUR net short 181K vs short 168K prior
- JPY net short 78K vs 94K short prior
- GBP net short 46K vs short 37K prior
- AUD net short 47K vs short 45K prior
- CAD net short 29K vs short 21K prior
- CHF net short 10K vs short 26K prior
- NZD net short 2k vs short 2k prior
- Gold net long 162K vs 130K prior
- Full report
Credit to euro shorts, who didn’t look to be lightening up on shorts (at least they weren’t two days before the ECB). And even more credit to anyone who owned one of those short contracts.
A few points:
- CAD longs have plenty of room to expand
- GBP shorts are suddenly a popular trade
- Gold is starting to get some speculative love
- I don’t think any of those 10K CHF shorts are the same ones who held a net -26K the week before and saw the market go 2,200 ticks against them in a moment, or about $27,500 per contract. Multiply that by 26,000 contracts and there’s a $750m hole in traders’ accounts.
EUR FX net short
The latest move broke the 2014 low but there’s still some room to run before the -214K low in June 2012. Note that the euro bottomed a month after that reading.
