Futures market speculative positioning data from the CFTC as of the close on Tuesday, May 28:
- EUR net short 85K vs short 81K prior
- JPY net short 100Kvs short 95K prior
- GBP net short 75K vs short 77K prior
- AUD net short 42K vs short 32K prior
- CAD net short 33K vs short 34K prior
- NZD net long 14K vs long 18K prior
- CHF net short 29K vs short 20K prior
- Dollar Index net long 46K vs 46K prior
Two things I want to highlight:
- Australian dollar shorts continue to balloon, which is incredible because 6 weeks ago the market was heavily long
- The net CHF short is at an 11-month high. The market has quickly been beginning to bet aggressively against the Swiss franc. This points to USD/CHF gains and possibly EUR/CHF gains.
CHF net positioning
