CFTC: Sharp increase in bets against the euro and Australian dollar

Author: Adam Button | Category: News

Futures market speculative positioning data from the CFTC as of the close on Tuesday:

  • EUR net short 80K vs short 46K prior
  • JPY net short 95Kvs short 88K prior
  • GBP net short 77K vs short 65K prior
  • AUD net short 32K vs short 13K prior
  • CAD net short 34K vs short 44K prior
  • NZD net long 18K vs long 23K prior
  • CHF net short 19K vs short 15K prior
  • Dollar Index net long 46K vs 35K prior

The weekly Commitments of Traders data showed a jump in euro shorts. The new positions were established after May 14 almost any position established since then is underwater which makes me believe there is a real chance of a short squeeze above 1.30.

What has been more remarkable is the swing in Australian dollar positions over the past two months. AUD longs were over 80K and now the market is holding a massive short. The articles earlier today show how quickly and aggressively everyone has swung against the Aussie dollar. I can’t remember the last time sentiment on a currency changed so dramatically.

Thanks to @samueldunlopfx and Jacek Wierbicki for helping me track down the data from the road.

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