NZD leads selling as Swiss franc covers shorts

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

CHF

This marks a flip from new shorts last week. Short covering while still net short, +3.74% of the book. Spot continued the buying from the report date close (Tue 30 Jun) to the release close (Mon 6 Jul), +0.6%.

GBP

This marks a flip from long liquidation and new shorts last week. The book is still net short and sits as a crowded short versus the prior 52 weeks. Short covering, +1.91% of the book. Spot continued the buying from the report date close (Tue 30 Jun) to the release close (Mon 6 Jul), +0.6%.

NZD

The heaviest selling of the week: long liquidation and new shorts while still net short, -10.67% of the book. The book is a crowded short versus the prior 52 weeks. Spot did not continue the selling from the report date close (Tue 30 Jun) to the release close (Mon 6 Jul); it moved the other way, +0.6%.

EUR

The book is net long, but it still sits as a crowded short versus the prior 52 weeks. Long liquidation and new shorts, -6.26% of the book. Spot did not continue the selling from the report date close (Tue 30 Jun) to the release close (Mon 6 Jul); it moved the other way, +0.2%.

AUD

Long liquidation and new shorts while still net short, -2.64% of the book. Spot did not continue the selling from the report date close (Tue 30 Jun) to the release close (Mon 6 Jul); it moved the other way, +0.2%.

JPY

Long liquidation and new shorts while still net short, -2.41% of the book.

CAD

Long liquidation and new shorts while still net short, -1.78% of the book.

Broad USD positioning saw short covering while the index moved lower.

NZD saw the largest absolute move with long liquidation and new shorts while still net short.
CHF flipped to short covering and spot continued higher.
EUR liquidated longs and added shorts into a crowded short versus the prior 52 weeks even though the book remains net long.

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