Commentaries, Sentiment

CFTC Reports New Net Speculative Euro And Cable Record Shorts

The CFTC’s latest weekly Commitment of Traders report shows that after a brief respite, potentially dictated by Goldman’s very temporary euro bullishness, the euro is back to having a record number of non-commercial futures-only positions at -74,917. This is a more than 50% increase from last week’s -46,341. As a reminder the prior euro net short record was -74,551 two weeks ago. Curiously, even as traders went bearish on the euro, this was not coupled by a carry offset with the JPY: net long spec yen positions dropped from 15,197 to 10,161. Another currency that saw an increase in bearish interest was the cable, which saw a 7,637 contract decrease to -71,624. On the bullish side, the AUD was the preferred contra-carry currency, as contracts increased by 10,161 to 74,339. In other commodities, both oil and gold saw speculative positions declines by -12,224 and -16,474, respectively, to 111,919 and 183,872. The number is relevant for gold as this represents 37% of the open interest.

Some charts showing net contract activity in selected FX and commodities:

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