 as of February 28th 2017 - EconoTimes)
CFTC commitment of traders report was released on Friday (3rd March) and cover positions up to Tuesday (28th February). 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, New Zealand dollar, and the Canadian dollar.
Shorts decreased:
- The Mexican peso saw the biggest decrease in the net-short positions, where net-shorts decreased by 10,698 contracts to -45.8K contracts.
- The euro shorts declined by 7,087 contracts that brought the net position to -51.2K contracts.
- The Japanese yen shorts got covered for a seventh consecutive week and this time marginally by 145 contracts that pushed the net position to -50K contracts.
Longs increased:
- The Australian dollar registered the biggest increase in long positions among its peers where longs were increased by 18,393 contracts, pushing the net position to +51.9K contracts. Longs increased for the seventh consecutive week.
- The Canadian dollar longs were increased for a sixth consecutive week and by 5,506 contracts to +30.1K contracts.
Shorts increased:
- The British pound registered the biggest increase in short positions among its peers as the short positions got raised by 4,319 contracts to -70.7K contracts.
- The Swiss franc shorts were increased last week and by 2,878 contracts to -11.8K contracts.
Longs decreased:
- The New Zealand dollar is the only counter where longs were reduced but marginally by 221 contracts that brought the net position to +2.9K contracts.
