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EUR Net Long Reduced to Lowest in a Year

CFTC

Friday's CFTC data showed markets trimmed CAD, MXN positions at the fastest clip, while only the NZD and JPY position improved:

  • The EUR net position faded only moderately, by 3.4k contracts, however the net long reached a fresh 52w low of 11% of open interest, putting markets as the smallest net long since Oct'22 and extending the drop from the highs posted earlier this year.
  • The NZD short was roughly halved, reduced by 7.2ppts, with markets adding a net of 3.6k contracts to put the net position closer to neutral (-7.5% total), while the JPY position recovered further off lows, but maintains a sizeable short of 99k contracts, or 38.3% of OI.

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