Yen leads currency buying as franc faces liquidation

Good Morning. This is your weekly COT Digest. Speculators leaned into JPY in size this week. CHF also moved on the selling side, but that was the smaller side of the tape.

JPY

The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +9.6% of the book. This is a second week of buying. Spot continued the buying from the report date close (Tue 27 Oct) to the latest price when the report was released (Fri 30 Oct), +0.3%.

CAD

Short covering while still net short, +2.98% of the book. Spot continued the buying from the report date close (Tue 27 Oct) to the latest price when the report was released (Fri 30 Oct), +0.6%.

GBP

New longs while still net short, +0.53% of the book.

CHF

The book is still net short, but it sits as a crowded long versus the prior 52 weeks. This marks a flip from new longs and short covering last week. Long liquidation while net short, -2.43% of the book. Spot did not continue the selling from the report date close (Tue 27 Oct) to the latest price when the report was released (Fri 30 Oct); it moved the other way, +0.5%.

EUR

This marks a flip from new longs last week. The book is a crowded short versus the prior 52 weeks. New shorts while net short, -1.6% of the book. Spot did not continue the selling from the report date close (Tue 27 Oct) to the latest price when the report was released (Fri 30 Oct); it moved the other way, +0.3%.

Broad USD positioning saw long liquidation while the index continued the selling from the report date close to the release close, -0.4%.

JPY posted the largest absolute move with new longs and short covering into a crowded long versus the prior 52 weeks.
CHF flipped to long liquidation while still net short, and the book remains a crowded long versus the prior 52 weeks.
EUR flipped to new shorts into a crowded short versus the prior 52 weeks.

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