Forex futures market speculative positions data from the CFTC commitments of traders report as of the close on 20 October 2015

  • EUR short 63K vs. 81K short prior week
  • GBP long 7.5 K vs. 8K short prior week
  • JPY short 4K vs. 14K short prior week
  • CAD short 27K vs. 34K short prior week
  • CHF short 1K vs. 2K short prior week
  • AUD short 38K vs. 34K short prior week
  • NZD long 4K vs 1K long prior week

EUR shorts are the smallest since the July 8, 2014 week.
GBP net position is long for the first time since the Sept 9, 2014 week.
JPY position is the smallest short position since October 16, 2012

What sticks out is how uninvolved the market was as of the close on Tuesday. The EUR position was the lowest short since July 2014. There is no position in GBP, JPY, CHF and NZD. If the market is not invested, it could lead to traders scrambling to get back involved for fear of missing what may be the final boat before year end.

Thursday and Friday, saw increased activity in the EUR and a sharp move lower. That move may be the direct result of not having enough on. If the BOJ should turn their tune around sooner rather than later, that too could lead to a ramping back up of a position.