The Commitment of Traders net speculative positions report from the CFTC as of Tuesday 13 November 2018

  • JPY -102k vs -89k prior
  • EUR -37k vs -47k prior
  • GBP -47k vs -57k prior
  • AUD -60k vs -66k prior
  • NZD -21k vs -26k prior
  • CAD -3k vs -3k prior
  • CHF -19k vs -20k prior
  • BTC -163 vs -210 prior
  • S&P 2202 vs 2096 prior
  • US10 -333k vs -539k prior

USDJPY longs got a bit of a bloody nose this week. The 113.60-114.00 range was looking solid but the floor fell out of it yesterday and today. A big change in bond shorts too and that’s been reflected in the falling yield. If 10’s go back under 3% we could see some real fireworks both there and in USD. Is the market finally coming to the realisation that the Fed might actually slow hikes or be near the end of their cycle?

Ryan Littlestone

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