CFTC: Observations of speculative positioning in the futures market – BBH

By FXStreet FXStreet (Delhi) – Research Team at BBH, lists down the observations made from the recently released commitment of traders report for the week ending November 10th.

Key Quotes

“1. In the Commitment of Traders reporting week ending November 10 covers the few days before the US employment data and a few days after. Speculative participants made five significant (10k contracts or more) adjustments to gross positions in the currency futures. The prior reporting period saw only three significant adjustments, and in growing gross short euro, yen, and Swiss franc positions. This week, four currencies, euro (+14 .7k contracts), yen (+16.7k contracts), Canadian dollar (+12.2k contracts), and Australian dollar (+10.2k contracts) saw significant increases in gross short positions. The bulls also increased their gross long Canadian dollar position by 13.8k contracts.

2. There was a clear pattern that stands out. All the eight currency futures we track saw an increase in the gross short position. The previous week, the gross shorts also increased except in the Canadian and New Zealand dollars. No such pattern was evident in the gross long positioning.

3. The liquidation of gross long sterling contracts (6.4k) and the accumulation of …read more

Source:: FX Street