Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, May 6 2014:
- EUR net long 33K vs long 26K prior
- JPY net short 61K vs short 70K prior
- GBP net long 41K vs long 44K prior
- AUD net long 9K vs long 11K prior
- CAD net short 32K vs short 30K prior
- CHF net long 13K vs long 14K prior
- NZD net long 21K vs long 18K prior
This is the first report since non-farm payrolls and shows how speculators dealt with the wicked USD turnaround after the report. The fall in USD/JPY longs was somewhat predictable as everyone loses faith in another rally.
The cringe-worthy move is euro longs, which built up just before Draghi destroyed them.
Euro net non-commercials
Expect to see those CAD shorts headed for the exits in next week’s report.
