Forex futures net speculative positions as of the close of business on Tuesday September 17, 2017:
- EUR long 62K vs 86K long last week.
- GBP short 10K vs 46K short last week.
- JPY short 51K vs 57K short last week.
- CHF short 1.5K vs 2K short last week.
- CAD long 59K vs 50K long.
- AUD long 72k vs 63k last week.
- NZD long 7K vs 12K long last week.
- Last week's data
There were some big swings in the latest CFTC data. The race to the exits for sterling shorts isn't a big surprise given the Bank of England late last week. Still, it was a rapid move from a very crowded short trade.
The dollar gained a bit of favor against the euro. The 1.20 level has proven to be a tough one to crack and there is a sudden sense of optimism about tax reform.
The other change is AUD/USD where many are beginning to bet the RBA will be the next big central banking turn. That break above 0.7750 in AUD/USD is tough to ignore but the next leg has been elusive.
