We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • The $GBP recovered some lost ground against the US Dollar but a break of key support on the way lower from 12-year resistance points to a bearish bias. Get your market update from @IlyaSpivak here: https://t.co/RxfVeYlGxi https://t.co/JsvH1GHxgh
  • RT @RedboxWire: #BREAKING CHINA'S NATIONAL HEALTH COMMISSION SAYS HUBEI PROVINCE LOWERED ITS CORONAVIRUS CASE TOLL BY REMOVING CLINICALLY D…
  • China #coronavirus update February 19: 1,779 patients discharged 74,576 total confirmed reports 114 new Wuhan virus deaths 394 additional cases -BBG
  • Markets turning "risk off" after South Korea reported 31 more cases of the #coronavirus and when China cut prime rates (as expected). Seems like the latter was not enough to satisfy the markets. $NZDUSD and $AUDUSD pointing lower with #SPX and #Nikkei225 futures down https://t.co/ttqb5MnfVL
  • RT @GunjanJS: Declining growth rate in coronavirus cases hint that outbreak is subsiding, via JPMorgan https://t.co/phVNTWpZCM
  • South Korea confirms 41 additional #coronavirus cases, bringing total to 82 -BBG
  • 🇨🇳 CNY 5-Year Loan Prime Rate (FEB), Actual: 4.75% Expected: 4.75% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-02-20
  • 🇨🇳 CNY 1-Year Loan Prime Rate (FEB), Actual: 4.05% Expected: 4.05% Previous: 4.15% https://www.dailyfx.com/economic-calendar#2020-02-20
  • The #Euro may have more room to fall versus its major peers such as the US Dollar, Japanese Yen and British Pound. What is the technical picture of EUR/USD, EUR/JPY and EUR/GBP? Get your market update from @ddubrovskyFX here: https://t.co/M6fLA9g3BK https://t.co/9bSzv7ivVc
  • If you missed my coverage of the Australian jobs report where I discussed $AUDUSD, $AUDJPY, $AUDNZD and $AUDCAD, check out the recording on YouTube here - https://t.co/nZkHmgznFF
US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

2019-12-23 09:30:00
Justin McQueen, Analyst
Share:

COT Report – Analysis and Talking Points

The Predictive Power of the COT Report

How to Read the CFTC Report

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

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

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

In the week up to December 17th, CFTC data highlighted that speculators cutback on their bullish bets in the US Dollar by $2.78bln against G10 currencies to $18.7bln. Consequently, long positioning in the greenback is at the lowest since mid-November.

The pullback in USD longs had largely stemmed from positioning changes in GBP, NZD and CHF, which all saw net shorts slashed by over $1bln. Following the UK election, bearish bets in the Pound have been cut to a 7-month low as investors continue to take up fresh longs with overall positioning now flat. Elsewhere, the sharp unwind in NZD net shorts persists amid a balanced RBNZ rate outlook, which in turn has left positioning in the currency relatively neutral. Swiss Franc net shorts saw a notable reduction; however, investors continue to hold a sizeable bearish bet in the currency.

Given that the domestic outlook continues to weigh on the Australian Dollar, sentiment remains weak with investors boosting their net shorts in the currency amid a liquidation in gross longs. Elsewhere, CAD bulls continue to reverse course with overall longs cut by $717mln to $851mln.

CFTC FX G10 RANGES AND AVERAGES

US Dollar

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

EUR/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

GBP/USD

Please add a description for the image.US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/JPY

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/CHF

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

USD/CAD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

AUD/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

NZD/USD

US Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT ReportUS Dollar Longs Slashed, GBP/USD Shorts Reduced Sharply, CAD Reversal Persists - COT Report

For a more in-depth analysis on FX, check out the FX Forecast

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.