NZD leads active currency positioning moves

Good Morning. This is your weekly COT Digest. Speculators added new longs to NZD in size this week. CHF posted the largest selling move, but that was the smaller side of the tape.

NZD

The heaviest buying of the week: new longs while net long, +46.55% of the book. The book is a crowded long versus the prior 52 weeks. Spot did not continue the buying from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep); it moved the other way, -0.7%.

JPY

This marks a flip from long liquidation and new shorts last week. New longs and short covering while net long, +31.55% of the book. Spot continued the buying from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep), +0.2%.

CAD

New longs and short covering while still net short, +20.84% of the book. Spot did not continue the buying from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep); it moved the other way, -0.6%.

AUD

New longs while still net short, +1.69% of the book.

CHF

Long liquidation and new shorts while still net short, -11.34% of the book. The book is net short, but it still sits as a crowded long versus the prior 52 weeks. Spot continued the selling from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep), -0.9%.

GBP

Long liquidation while still net short, -4.2% of the book. Spot continued the selling from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep), -0.1%.

EUR

This marks a flip from new longs and short covering last week. Long liquidation and new shorts while still net short, -4.1% of the book. The book is still net short and sits as a crowded short versus the prior 52 weeks. Spot continued the selling from the report date close (Tue 8 Sep) to the latest price when the report was released (Fri 11 Sep), -0.2%.

Broad USD positioning showed new longs and short covering while net long. Index continued the buying from the report date close to the release close, +0.3%.

NZD posted the largest absolute move with new longs into a crowded long versus the prior 52 weeks.
JPY flipped back to buying while CHF extended long liquidation and new shorts.
Spot moved against the NZD and CAD flows into the release.

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