News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
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
Gold
Mixed
GBP/USD
Bearish
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
USD/JPY
Bullish
More View more
Real Time News
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/q0tVjDEr0v
  • The US 10-Year Treasury yield has advanced for four consecutive weeks for the longest such stretch since September 2018. Yet this isn't just a US issue. Yields are up globally. Perhaps most impressive is Japan's 10yr adv... https://t.co/78deo7rOa8 https://t.co/SjXYClItFC
  • Rising Treasury yields inspired a broad selling in global equities last week. The longer-term outlook remains positive however on the back of the reflationary theme, strong earnings and vaccine progress. Get your market update from @margaretyjy here: https://t.co/LLlhEpmJxI https://t.co/bJebULtjLG
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/kuqShllQFp
  • Although the longer-term technical outlook for AUD remains skewed to the topside, recent developments suggest the commodity-sensitive currency could lose ground against USD and JPY. Get your market update from @DanielGMoss here: https://t.co/Rl1h8WdXwp https://t.co/49RKx86FzG
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here: https://t.co/nJdh9dA1HM https://t.co/peLh7zTTiz
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vs7ypHHwya
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here: https://t.co/Ee9PSppnd2 https://t.co/uaiCiEHBMs
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/OXUgYIl2ru
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/xncree8XaW
Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

Justin McQueen, Analyst

US Dollar, EUR/USD, GBP/USD, COT Report –Analysis

The Predictive Power of the COT Report

How to Read the CFTC Report

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

Source: CFTC, DailyFX (Covers up to June 9th, released June 12th)

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Justin McQueen
Improve your trading with IG Client Sentiment Data
Get My Guide

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

In the reporting week to June 9th, CFTC showed that speculators had been lightening up their bearish exposure to high-beta currencies (AUD, CAD, NZD), while safe-haven currencies (JPY, USD, CHF) had been out of favour. In turn, positioning changes in the US Dollar saw shorts pick up by $1.4bln vs G10 currencies to total $8.775bln. However, with safe-havens outperforming risk-sensitive currencies since Tuesday amid the breakdown across equity markets, investors chasing trends look to have been caught offside.

The largest change had occurred in the Euro with net longs rising $2.2bln, taking overall net longs to fresh 2020 highs at $13.5bln. However, with the Euro modestly lower since June 9th, fresh longs are likely to face risks of a potential squeeze. Elsewhere, the Pound saw bearish positioning cut by roughly 1/3 on the back of short-covering. Although, as Brexit risk premiums continue to edge higher with the UK ruling out an extension to the transition period, upside may be capped for the Pound.

A notable pullback in Japanese Yen net longs with a reduction of $1.7bln as investors liquidated outright longs. That said, the Japanese Yen will continue to take its cue from US yields, as a unwind of the recent bear steepening has pushed spot USD/JPY to the low 107.00s. Meanwhile, positioning in the Swiss Franc has been cut to neutral as net longs equate to a marginal $232mln.

Despite the reduction in bearish bets across the commodity currencies, they look to be at the greatest risk from a second wave of coronavirus cases in China. Therefore, speculators may once again pick up the pace in adding bearish exposure to the AUD and NZD.

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

US Dollar |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

EUR/USD |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

GBP/USD |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

USD/JPY |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

USD/CHF |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

USD/CAD |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

AUD/USD |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

NZD/USD |

Euro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT ReportEuro Bulls Spike, US Dollar Out of Favour, Australian Dollar at Risk - COT Report

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

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES