COT Report – Analysis and Talking Points
- US Dollar Longs Slashed by $932mln vs G10 Currencies
- GBP/USD Shorts Increase
- Short Covering Seen in Safe-haven JPY and CHF
The Predictive Power of the COT Report
Source: CFTC, DailyFX (Covers up to September 10th, released September 13th)
CAD Bullish Positions Double, GBP/USD Shorts Rise, US Dollar Longs Slashed – COT Report
The latest CFTC positioning data show that investors have cut their long exposure in the greenback by $932mln vs G10 currencies. Speculative positioning changes in the Euro had been relatively light ahead of the ECB meeting. Elsewhere, GBP investors boosted their outright shorts by circa 6.5k contracts to 130k, resulting in a net short increase of $700mln to $7.1bln
The Japanese Yen saw net longs increase by $522mln to $3.7bln as outright shorts were covered, while the Swiss Franc reversed last weeks selling as net shorts decreased by $376mln. Across commodity currencies, Canadian Dollar net longs were doubled to $876mln, while bearish sentiment on the Australian Dollar eased slightly as net shorts were cut by $372mln to $3.636bln.
US Dollar
GBP/USD
