This is a snapshot of speculative positioning in major currencies from traders in the futures market, reported weekly by the CFTC through the IMM (International Monetary Market).
EUR:
Net speculative long positions in the euro surged to 59,425 contracts, a sharp rise from 13,090 the previous week. This marks a strong bullish shift in sentiment toward the euro, likely driven by improving eurozone data or diverging central bank expectations.
JPY:
Bullish positions in the yen eased slightly, with net longs falling to 122,964 contracts from 133,902.
GBP:
Speculative longs on the pound were little changed at 29,402 contracts, compared to 29,193 the prior week. Traders appear to be maintaining a cautiously optimistic stance, possibly reflecting UK macro conditions.
AUD:
Net shorts on the Aussie dollar widened notably to 70,449 contracts from 48,226. Deepening bearish position caused me to do a double take. I quite like AUD. Concerns about China’s outlook?
CHF:
Net shorts on the Swiss franc slightly decreased to 34,375 contracts from 36,957. This small shift suggests positioning remains broadly bearish, likely due to its funding currency status and a dovish SNB.
NZD:
Speculative shorts in the kiwi dollar declined to 40,444 contracts from 52,931, indicating a modest reduction in bearish sentiment.
CAD:
Net shorts on the Canadian dollar eased to 136,582 contracts, down from 142,410 the prior week. The move may reflect a mild improvement in oil prices or a shift in views around Bank of Canada policy.
