Commitment of traders report for the week ending July 31, 2018
- EUR long 23K vs 29K long last week. Longs trimmed by 7K
- GBP short 47K vs 47K short last week. Shorts increased fractionally
- JPY short 68K vs 74K short last week. Shorts trimmed by 5K
- CHF short 44K vs 46K short last week. Shorts increased by 4K
- CAD short 32K vs 44K short last week. Shorts trimmed by 12K
- AUD short 51k vs 45K short last week. Shorts increased by 6K
- NZD short 24K vs 24K short last week. Shorts trimmed fractionally
- Last week's data
The underlying theme is a preference for US dollars. The question is whether it's an overcrowded trade. Certainly some of the USD/JPY longs had second thoughts this week but you need to inflict a lot more pain than a dip to 111.00 from 113.00 to spark a squeeze.
USD/CAD longs have pared the trade now for three straight weeks. a NAFTA agreement would almost certainly cause an acceleration.
The net short on AUD is the largest since Nov 2015.
