Futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, July 16:

  • EUR net short 37k vs short 41k prior
  • JPY net short 86K vs short 80K prior
  • GBP net short 37K vs short 34K prior
  • AUD net short 71K vs short 63K prior
  • CAD net short 20K vs short 24K prior
  • NZD net short 3K vs short 1K prior
  • CHF net short 4k vs short 1K prior
  • Dollar Index net long 29K vs 29K prior
  • Gold net long 23K vs 16K prior

Nothing really leaps out. Dollar shorts were hammered by the squeeze last week but they hung in there or were re-established. Overall, it`s a continue slow shift in dollar longs and suggests they`re longer term positions and strong hands. That`s not something you want to bet against.