Tag: CFTC Commitment of Traders

A quick note on the sentiment of traders coming from futures data from the CME reported by the CFTC. Traders are bearish EUR, JPY and CHF, with net positions of ‐$10bn, ‐$8bn and ‐$1bn, respectively and bullish GBP, AUD, MXN, NZD and CAD; with net positions of $4.5bn, $3.4bn, $2.7bn, $1.3bn and $1.0bn. However, Camilla Sutton, Chief FX strategist at Scotiabank commented that this week’s data is interesting as it provides the first warning signal for EUR bears and GBP bulls as the EUR short position failed to build and traders began to close out GBP longs. These crowded positions in EUR and GBP could signal an uptick in trading activity this week as there…