CFTC Commitments of Traders: Euro shorts getting crowded

Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday March 2, 2015:

• EUR net short 178K vs short 178 prior
  
• JPY net short 60K vs 47K short prior
• GBP net short 42K vs short 22K prior
• AUD net short 56K vs short 63K prior
• CAD net short 27K vs short 36K prior
• CHF net short 5K vs short 5K prior
• Full report

This was the second-largest euro short position on record. A net -214K in late May 2012 was the record and EUR/USD bottomed two months later. At the moment, yen shorts don’t look as crowded and on Friday the US dollar rallied just as much against the yen as against the euro.