The weekly forex positioning data in the CFTC Commitments of Traders report for the week ending Tuesday, December 4, 2018:
- EUR short 61K vs 55K short last week. Shorts increased by 6K
- GBP short 40K vs 39K short last week. Shorts increased by 1K
- JPY short 110K vs 104K short last week. Shorts increased by 6K
- CHF short 20K vs 21K short last week. Shorts trimmed by 1K
- CAD short 13k vs 9k short last week. Shorts increased by 4K
- AUD short 51k vs 54k short last week. Shorts trimmed by 3K
- NZD short 21K vs 21K short last week. No change
The JPY short position remains the largest speculative position. The net position is from nearly 1 week ago. Since that time, the JPY rallied and tested the 100 day MA at 112.26 area on Thursday and again today. However, the price has trended to the upside and is trading about 100 pips off the low.
The EUR position inched up by 6k as well and is the 2nd largest short position at 61K. The EURUSD has been trading in an up and down trading range of late, with today being a move back toward the middle of the range since November 28th.
