CFTC Commitments of Traders (COT) Report 16 April, published 19 April 2013 - Technical Analysis. There was aggressive buying in the Euro during the latest period. We suspected the run up to the 1.32 level on the 16th of April was short-covering, and the market has subsequently reversed. The total Euro short came down to 48.2 from 73.1k last week. The SF, pegged to the euro, can be partially viewed as a proxy for the Euro. There was also a 16.1K liquidation in the short position of the SF, a large number in a small market. We are beginning the week with fresh selling in the Euro.
The total spec long in the USD was reduced to 300.2K, down from 316.2K last week. The spec short-covering in the euro and the SF would have taken this number lower except there was heavy selling Australian Dollars and buying the USD. Since the end of the period, the selling has continued in the A$.
The report of futures market activity from Friday the 19th of April shows the total open interest in the Australian Dollar is now less than the OI in the Canadian. Only ten days prior, it was 40K bigger than the C$. The sell-off in the A$ is approaching the end.
The total spec long in the USD was reduced to 300.2K, down from 316.2K last week. The spec short-covering in the euro and the SF would have taken this number lower except there was heavy selling Australian Dollars and buying the USD. Since the end of the period, the selling has continued in the A$.
The report of futures market activity from Friday the 19th of April shows the total open interest in the Australian Dollar is now less than the OI in the Canadian. Only ten days prior, it was 40K bigger than the C$. The sell-off in the A$ is approaching the end.