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CFTC commitment of traders: EUR longs increase to 200K (all time largest long position).

  
Analysis, Forex
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Weekly FX speculative positioning data from the CFTC

  • EUR long 200K vs 180K long last week. Longs increased by 20K
  • GBP short 3K vs 15K short last week. Shorts trimmed by 12K
  • JPY long 27K vs 31K long last week. Longs trimmed by 4K
  • CHF long 17K vs 12K long last week. Longs increase by 5K
  • AUD short 1K vs 1K short last week. Shorts trimmed by 4K
  • NZD 0K vs 1K short last week. Shorts trimmed by 1K
  • CAD short 30k vs 23K short last week. Shorts increased by 6K

Highlights:

  • EUR longs continue to rise and are at new record long position at 200K. The largest short position all time is at -227K
  • GBP position has been whittled down to near unchanged after being short by 36K at the beginning of June 2020
  • AUD and NZD speculative positions are near unchanged
  • CAD shorts are the more or less, the only short currency position (long USD position).
Weekly FX speculative positioning data from the CFTC

CFTC commitments of traders: EUR longs spike by 32K to a record long level

  
Analysis, Forex
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Weekly FX speculative positioning data from the CFTC

 

  • EUR long 157K vs 125K long last week. Longs increased by 32K
  • GBP short 25K vs 15K short last week. Shorts increased by 10K
  • JPY long 29K vs 19K long last week. Longs increased by 10K
  • CHF long 8K vs 7K long last week. Longs increase by 1K
  • AUD short 5K vs 0K long last week. Shorts increased by 5K
  • NZD short 1K vs 2K last week. NZD switches from long to short. 3K change
  • CAD short 13k vs 17K short last week. Shorts trimmed by 4K
Highlights:
The BIG HIGHLIGHT for the week is in the EUR.  The EUR longs spiked up by 32K to 157K in the current week to a record high for long positions. The move higher is corresponding to higher EURUSD prices. The price of the EURUSD has been up for 6 consecutive weeks.  The long position started to move more to the upside during the May 19 week when the position was at 72K.  The EURUSD during that week was down at 1.0800. The price high today reached to 1.1908 before backing off.  Nice trade for the longs.
Of course, a concern for markets that get too long or short, is that there can be a squeeze the other way if prices start to lose trend momentum.   As a result, be careful of too much of a good thing, but let the technicals tell the story. They have been bullish.
Weekly FX speculative positioning data from the CFTC_
The GBP shorts, however, increased by 10K to 25K (still much lower than the EUR longs) while the currency has moved higher.
The JPY longs increased and the USDJPY moved down (higher JPY) into early trading today. However, the price snapped back higher and nearly erased the full move lower this week in a single day.
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