CFTC Commitment of Traders: No fear from cable longs

Author: Adam Button | Category: Forex Orders

Weekly Commitments of Traders data for the week ending September 8, 2020:

Weekly Commitments of Traders data for the week ending September 8, 2020:
  • EUR long 198K vs 197K long last week. Longs increased by 1K
  • GBP long 13K vs 6k long last week. Longs increased by 7K
  • JPY long 22K vs 30K long last week. Longs decreased by 8K 
  • CHF long 12K vs 12K long last week. No change in net speculative position
  • AUD short 2K vs square last week. Shorts increased by 2K 
  • NZD long 5K vs 7K long last week. Longs decreased by 2K
  • CAD short 17k vs 27K short last week. Shorts trimmed by 10K
The euro net (shown above) remains near the record high and it's a big reason that some market watchers are expecting a flush lower in the euro.

More notable in the short-term is the build in GBP positions in the week ending Tuesday. There are undoubtedly some speculators regretting that move. Look for a reversal in the week ahead (or maybe GBP-bulls have a stronger hand than I believe).

For bank trade ideas, check out eFX Plus
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