Latest Commitment of Traders positions (FX) as at May 9th 2017

CFTC commitment of traders report was released on Friday (12th May) and cover positions up to Tuesday (9th May). 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 and the Mexican peso.

Shorts decreased:

• The British pound saw another big decrease in the net-short positions, where net-shorts decreased by 34,566 contracts to -46.8K contracts. Shorts decreased for a seventh consecutive week.
• The Swiss franc shorts declined by 2,512 contracts pushing the net position to -15.2K contracts.
• The shorts in the New Zealand dollar declined by 1,184 contracts last week, which brought the net position to -10.8K contracts.

Shorts increased:

• The Canadian dollar registered the biggest increase in the short positions among its peers as the short positions got increased by 38,511 contracts to -86.2K contracts. Shorts increased for the 10th consecutive week.
• The Japanese yen shorts got increased by 5,824 contracts which pushed the net position to -36.3K contracts. Shorts increased for a 2nd consecutive week.

Long positions covered:

• The long positions in Australian dollar got decreased for the sixth consecutive week, and by 16,891 contracts that pushed the net position to +25.8K contracts.

Long positions increased:

• Long positions in Mexican peso increased sharply by 54,788 contracts which pushed the net position to +69.9K contracts.

Position shifted from short to long:

• The long positions in the euro got increased in such a fashion that the net position shifted from short to long. The long positions got increased by 24,052 contracts, which pushed the net position to +22.4K contracts.