The net short Swiss Franc position against the dollar has risen to levels seen before the breakdown of the EUR/CHF floor. Short CHF has increased from short 9.4 K contracts to 16.4 K contracts. Before the end of the peg, in December 2014, speculators were short CHF by 20-25 K contracts. This big short position got repeated only once at the end of 2015, when the Fed was supposed to hike rates, but finally did not. In the last week, speculators raised their short positions by 15% for both the euro and CHF. Euro longs against USD were up slightly, while CHF longs were reduced. Choose the Swiss Franc for CHF speculative postion It is difficult to discern an overall pattern among the changes in speculative positioning in the currency futures in the CFTC reporting week ending October 18. Most position adjustments were minor. Nine of the 16 gross speculative positions we track were adjusted by less than 5k contracts. There were three adjustment of more than 10k contracts. The euro account for two of them. The bulls tried to pick a bottom of the euro has it approached the .10 area. They added 13.9k contracts to their gross long position, lifting it to 128.2k contracts. The bears felt emboldened and added 29.7k contracts to their gross short position, which now stands at 2374k contracts.
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George Dorgan considers the following as important: Commitment of Traders, Featured, FX Trends, newslettersent, Speculative Positions
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The net short Swiss Franc position against the dollar has risen to levels seen before the breakdown of the EUR/CHF floor. Short CHF has increased from short 9.4 K contracts to 16.4 K contracts. Before the end of the peg, in December 2014, speculators were short CHF by 20-25 K contracts. This big short position got repeated only once at the end of 2015, when the Fed was supposed to hike rates, but finally did not. In the last week, speculators raised their short positions by 15% for both the euro and CHF. Euro longs against USD were up slightly, while CHF longs were reduced. |
Choose the Swiss Franc for CHF speculative postion |
18-Oct | Commitment of Traders | |||||
Net | Prior | Gross Long | Change | Gross Short | Change | |
Euro | -109.3 | -93.5 | 128.2 | 13.9 | 237.4 | 29.7 |
Yen | 37.0 | 45.9 | 75.0 | -4.3 | 38.0 | 4.6 |
Sterling | -91.6 | -95.5 | 52.6 | 2.2 | 144.1 | -1.7 |
Swiss Franc | -16.4 | -9.4 | 18.3 | -1.8 | 34.7 | 5.2 |
C$ | -14.3 | -11.7 | 23.7 | -7.1 | 38.0 | -4.5 |
A$ | 30.0 | 26.1 | 80.5 | 7.1 | 50.5 | 3.2 |
NZ$ | -0.2 | -7.7 | 29.5 | -1.4 | 29.7 | -9.0 |
Mexican Peso | -30.7 | -51.8 | 33.4 | -4.7 | 64.1 | -25.8 |
(CFTC, Bloomberg) Speculative positions in 000’s of contracts |