Forex futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, March 4, 2014:
- EUR net long 23K vs long 14K prior
- JPY net short 79K vs short 85K prior
- GBP net long 30K vs long 29K prior
- AUD net short 41K vs short 39K prior
- CAD net short 61K vs short 59K prior
- CHF net long 2K vs long 1K prior
- NZD net long 13K vs long 11K prior
Yen shorts finally started to give up and now the pair is flying high; isn’t that just the poetry of the market. Euro speculators, on the other hand, were finally on the right side of the trade after repeated whipsaws. The long speculators sniffed out that the ECB was going to stay on the sidelines. I remain puzzled by the lack of enthusiasm for GBP longs, despite the extended gains.
