The Currency Report
Large Currency Speculators remain net short British Pound, latest CFTC data shows…
(Commitments of Traders Data)
Large Currency Speculators remain net short British Pound, while again adding to net longs in Yen. The latest data showed a minor 8% decline in net short Sterling positions, which could simply be indicative of end of month position squaring. According to the Wall Street Journal, the Pound sank to a 7 year low last week on the prospect of the UK leaving the European Union (‘Brexit ’ Fears).
Significant percent change moves highlight one of the main goals of this report; which is to keep an eye on what large speculators have been doing over the longer term with their positions, with the assumption that they large speculators are positioning in the direction of the longer term trend. That being said, in general that direction appears to include remaining net short British Pound.
Due to the delayed dissemination of this information, it should in no way be considered in any way as a trade recommendation or advice.
Highlighted Currency, net position and % change
Net Longs Net Shorts
JY +52k, +10% EC -46k, -2.8%
CD -36k, -18%
The most recent Commitments of Traders data shows some significant percentage changes in non-commercial futures only net positions from the prior week including the following:
A trimming 18.07% decrease from 45,085 to 36,940 contracts net short of the Canadian dollar, which represents 5.16% of open interest;
A 46.77% decrease from 4,366 to 2,321 contracts net short of the Swiss Franc, which represents 4.85% of open interest;
A minor 8.79% decrease from 36,255 to 33,068 contracts net short of the British Pound, which represents 1.24% of open interest;
A significant 10.09% increase from 47,901 to 52,734 contracts long of the Japanese Yen, which represents 1.88% of open interest;
A steady 2.80% decrease from 48,205 to 46,857 contracts net short of the Euro, which represents 0.32% of open interest;
A reversing 441.11% increase from short 2,807 to long 9,575 contracts net of the Australian Dollar, which represents 10.36% of open interest;
A small 6.12% decrease from 31,342 to 29,425 contracts net long of the US Dollar Index, which represents 2.77% of open interest;
For those interested in Stock Index Futures, it may be of interest that over the same period large speculators increased their net short positions in E-Mini S&P 500 Stock Index Futures by 31.06% from 158,805 to 208,122 contracts. Feel free to contact me directly for more specific information.
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