CFTC commitment of traders: GBP shorts the greatest since April 2017

Technical Analysis

Forex futures positioning data among noncommercial traders for the week ending August 6, 2019

  • EUR short 44K vs 53K short last week. Shorts decreased by 9K
  • GBP short 102K vs 90K short last week. Shorts increased by 11K
  • JPY long 11K vs 4K short last week. Traders shifted the position to positive by increasing buys by 15K
  • CHF short 16k vs 14k short last week. Shorts increased by 2K
  • AUD short 55k vs 53k short last week. Shorts increased by 2K
  • NZD short 12K vs 12K short last week. Positioning unchanged
  • CAD long 24K vs 21K long last week.  Longs increased by 3K
  • Prior week

The market is short the GBP and have the largest specular position since April 2017. With the GBPUSD trading at the lowest level since January 2017, the shorts are making money on the positions.  This week the shorts or increased by 11K.

While short increased in GBP, longs increased in the EUR by 9K. The EURUSD did rally this week with most of the gains coming on Monday’s run (to the upside).   

AUD shorts remains the 2nd largest position (short). The AUDUSD bottomed on Wednesday, helped by continued trade tensions with the US and China, and a surprised 50 basis point cut by its neighbors in New Zealand.  

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