CFTC Commitments of Traders: Euro shorts continue to grow, yen shorts jump

Author: Adam Button | Category: Forex Orders

Forex futures positioning data for the week ending February 25, 2020:

JPY net
  • EUR short 114K vs 92K short last week. Shorts increased by 23K  
  • GBP long 30K vs 29K long last week. Longs increased by 1K
  • JPY short 56K vs 27K short last week. Shorts increased by 29k
  • CHF long 1K vs 2K long last week. Longs decreased by 1K
  • AUD short 44k vs 38K short last week. Shorts increased by 6K
  • NZD short 15K vs 12K short last week. Shorts increased by 3K
  • CAD long 15k vs 8K long last week. Longs increased by 7K
I think this is a clue as to why the pound was so weak late in the week. Everyone is heading to the sidelines to get a clear look at the virus and that meant closing out long GBP and short EUR positions; along with hefty, structural EUR/GBP shorts. We'll have a better idea if that was really the case with next week's data.

The rush to sell the yen in this week's data confounds me.
ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose