Weekly FX futures positioning data from the CFTC:
- EUR short 75K vs 59K short last week. Shorts increased by 16K
- GBP long 13K vs 18K long last week. Longs decreased by 5K
- JPY short 21K vs 36K short last week. Shorts decreased by 14k
- CHF long 5K vs 3.5K long last week. Longs increased by 1.5K
- AUD short 43k vs 27K short last week. Shorts increased by 16K
- NZD short 2K vs 2K long last week. Positioning reversed in a 4K move
- CAD long 19k vs 35K long last week. Longs decreased by 16K
The overall net US dollar position rose by $12.69B and many of those dollar buyers will be happy they did so after the rally since Tuesday's close. At a more granular level, yen shorts bailed and AUD shorts piled in.
The the Aussie continues to carve out 10-year lows, I expect many more shorts to pile in.
