CAD leads selling as NZD draws short covering

Good Morning. This is your weekly COT Digest. Speculators unwound CAD in size this week. NZD also saw notable short covering, but that was the smaller side of the tape.

NZD

The heaviest buying of the week: short covering while still net short, +10.3% of the book. This is a second week of short covering. Spot did not continue the buying from the report date close to the release close; it moved the other way, -1.0%.

GBP

Short covering while still net short, +5.18% of the book. This is a second week of short covering. Spot did not continue the buying from the report date close to the release close; it moved the other way, -0.3%.

EUR

New longs and short covering while net long, +4.67% of the book. This marks a flip from long liquidation last week. Spot did not continue the buying from the report date close to the release close; it moved the other way, -0.2%.

CHF

Short covering while still net short, +4.52% of the book.

CAD

The heaviest selling of the week: long liquidation and new shorts while still net short, -14.32% of the book. This is a second week of long liquidation and new shorts. Spot continued the selling from the report date close to the release close, -0.5%.

AUD

Long liquidation while still net long, -9.26% of the book. This is a second week of long liquidation. Spot continued the selling from the report date close to the release close, -0.7%.

JPY

New shorts while still net short, -4.37% of the book. This is a second week of new shorts. The book is a crowded short versus the prior 52 weeks. Spot continued the selling from the report date close to the release close, -0.1%.

Broad USD positioning added new longs and short covering with the index continuing the buying from the report date close to the release close, +0.9%.

CAD posted the largest move with long liquidation and new shorts while still net short.
NZD led buying with short covering while still net short as spot moved the other way.
JPY added new shorts into a crowded short versus the prior 52 weeks.

Disclaimer: COT data reflects positioning and sentiment, not trade timing or price predictions.