The Commitment of Traders net speculative positions report from the CFTC as of Tuesday 10 July 2018
- JPY -40k vs –39k prior
- EUR +24k vs +37k prior
- GBP -40k vs -29k prior
- AUD -41k vs -39k prior
- NZD -27k vs -26k prior
- CAD -53k vs -49k prior
- CHF -40k vs -40k prior
- BTC -1455 vs -1501 prior
- S&P +4187 vs +3668 prior
- US10 -439k vs -500k prior
Another jump in CAD and GBP shorts. GBP shorts are at the largest since late last year.
CFTC GBP futures positioning as of 10 July 2018
What’s stark about the overall picture is that everyone is long USD except vs EUR.
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Ryan, eager to hear how you and your team view this data. Three days old when we get it so some rear view mirror perspective but I am always curious how we evaluate this for the following week .
Have a great weekend.
Hi Marc
As you say, one of the problems with this data is that’s it’s lagging. Why that still happens in this day and age is anyone’s guess?
For me, there’s nothing tradeable in this data. It’s just another snapshot of part of the market.
It shows how people are leaning towards certain currencies. In this case, as I mentioned above, the sentiment is all in favour of the dollar (except for the euro).
I know a lot of people think that this data is a driver of prices because it can lead to squeezes and covering when positions are wrong but I disagree. Last year we saw huge JPY shorts that were massively offside and it took ages for that sentiment to change and those shorts to unwind, and when it did, that pretty much happened at the bottom of the market this year.
The next thing is that these are futures so many trades could just be hedges, which are either covered or just rolloff at expiry.
So, to summarise. There’s nothing really tradeable in this data, it’s not often an indicator of direction in spot but it’s fairly good for seeing what some part of the Forex market is thinking.