Latest Commitment of Traders positions (FX) as at April 4th 2017

CFTC commitment of traders report was released on Friday (7th April) and cover positions up to Tuesday (4th April). COT report is not a complete presenter of entire market positions since the future market is relatively smaller compared to Spot FX market. Nevertheless, it presents crucial picture on how key participants are looking at future moves.

Key highlights:

Market participants are net short in all currencies against the dollar except the Australian dollar.

Shorts decreased:

• The Japanese yen saw the biggest decrease in the net-short positions among peers, where net-shorts decreased by 7,381 contracts to -45.8K contracts. Shorts decreased for third consecutive week.
• The pound shorts declined for the second consecutive week and by 4,402 contracts that brought the net position to -99.7K contracts.
• The shorts in Swiss franc declined by 2,567 contracts last week, which brought the net position to -13.8K contracts.

Shorts increased:

• The Mexican peso registered the biggest increase in the short positions among its peers as the short positions got increased by 4,951 contracts to -9.7K contracts. Shorts increased for the second consecutive week.
• The euro shorts got increased by 3,482 contracts which pushed the net position to -11.4K contracts.
• The Canadian dollar shorts got increased by 2,008 contracts that pushed the net position to -30.2K contracts.
• The New Zealand dollar shorts got increased by 2,095 contracts to -14.7K contracts.

Long covered:

• The Australian dollar is the only counter where long positions were covered and by 3,545 contracts last week that pushed the net position to +49.6K contracts.