Forex futures market speculative positions data from CFTC commitment of traders report as of close on December 8
- EUR short 172K vs. short 182K previous
- GBP short 24K vs. short 28K previous
- JPY short 68K vs. short 75K previous
- CAD short 40K vs short 39K previous
- CHF short 26K vs. short 25K previous
- AUD short 34K vs short 47K previous
- NZD long 9K vs. long 5K previous
The EUR shorts were pared by 10K as of the close of business on Tuesday Dec 8th according to the weekly CFTC commitment of traders report. In the week ending Dec 1, the EUR had the largest short position since May 5,2015 at 182K short.
Since that time, the EURUSD moved higher by about 260 pips as of the close of business on Dec 8. It is currently up 360 pips from the Dec 1 net speculative position.
It is thought that if there is a large position, the potential exists for a squeeze in the opposite direction of the position. With 172K short and the net position only down 10K this week, there could be more of a squeeze if pushed.
Other changes:
- GBP shorts decreased by 4K
- JPY shorts decreased by 7K
- CAD shorts increased by 1K
- CHF shorts increased by 1K
- AUD shorts decreased by 13K
- NZD longs increased by 4K
