Latest Commitment of Traders positions (FX) as of November 29th, 2016

CFTC commitment of traders report was released on Monday (2nd December) and cover positions up to Tuesday (29th November). 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 for the Japanese yen, New Zealand dollar, and the Australian dollar.

Shorts increased:

• The Mexican peso registered the biggest increase in net short positions for second consecutive week among its peers last week. The net-short positions increased by 6,186 contracts to -54.5K contracts.
• British pound short positions rose by 3,817 contracts to -78.1K contracts.
• The New Zealand dollar saw its shorts increase by 1,339 contracts to -1.8K contracts.
• The Canadian dollar short positions increased by 1,114 contracts to -18.6K contracts.
• Swiss Franc shorts were increased by 1,434 contracts to -24.3K contracts.

Shorts decreased:

• The euro is the only counter where shorts were covered but only marginally by 108 contracts to -119.2K contracts.

Longs decreased:

• The Australian dollar registered the biggest and only long covering among peers, where long positions declined by 9,748 contracts to +20.9K contracts.

Positions flipped from long to short:

• The Japanese shorts rose in such a way that the net positions flipped from long to short. The net short positions rose by 11,169 contracts, bringing the net positions to -0.27K contracts.