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EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

Justin McQueen, Analyst

COT Report – Analysis and Talking Points

  • US Dollar Longs Rise $2.3bln
  • Euro Shorts Jump on ECB
  • GBP Shorts Ease Slightly
  • NZD Bearish Sentiment at Extreme Levels

The Predictive Power of the COT Report

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

Source: CFTC, DailyFX (Covers up to September 17th, released September 20th)

Euro Shorts Sharply Rise, GBP Shorts Remain Extreme, CAD Bulls Boosted – COT Report

The latest CFTC positioning data show that speculators boosted their bullish bets in the US Dollar, with net longs rising by $2.33bln against the G10 pairs, while overall net longs rose by $2.8bln. This had largely been sparked by the sharp increase in Euro net shorts of $2.6bln as investors reacted to the ECB meeting through cutting their gross longs 16k contracts to 164k.

Elsewhere, GBP net shorts had been pared slightly with a reduction of $389mln, however, bearish positioning within the currency remains somewhat excessive with shorts outnumbering longs by 5:1. Across commodity currencies, speculators have added to bullish bets on the Canadian Dollar with net longs rising $621mln to $1.5bln, while bearish sentiment in the New Zealand Dollar are at extreme levels as net shorts increase to $2.29bln.

Among the safe-haven currencies, the Japanese Yen saw net longs slashed by $1bln amid the slight improvement in risk-sentiment, while positioning in the Swiss Franc remains relatively neutral.

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

*16th and 84th percentile highlighted over 3-year period.

US Dollar

USD CFTC POSITIONING

EUR/USD

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

GBP/USD

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

USD/JPY

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

USD/CHF

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

USD/CAD

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

AUD/USD

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

NZD/USD

EUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT ReportEUR/USD Shorts Sharply Rise, GBP/USD Shorts Ease, CAD Bulls Boosted – COT Report

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