The FXCM Speculative Sentiment Index is an excellent tool to gauge trader positioning and sentiment in the FX market. Unlike major equities or futures markets, there is no single centralized exchange for forex trading. Such decentralized activity makes finding uniform volume or open interest data impossible. DailyFX fills the gap by offering access to FXCM’s proprietary volume and positioning information—giving an unparalleled view of forex market sentiment.
| LastWeek | Present | %Long | Change: Open Interest | Signals | |
| EUR/USD | -1.21 | -1.17 | 46.0% | 8.0% | Bullish |
| GBP/USD | 4.18 | 5.71 | 85.0% | -2.9% | Bearish |
| USD/JPY | -1.14 | 1.21 | 55.0% | -0.9% | Bearish |
| USD/CHF | 3.58 | 4.69 | 82.0% | -4.0% | Bearish |
| USD/CAD | -1.10 | 1.17 | 54.0% | -3.4% | Bearish |
| GBP/JPY | 1.86 | 2.05 | 67.0% | 4.0% | Bearish |
Euro Forecast Turns Bullish Against US Dollar
EURUSD – The ratio of long to short positions in the EURUSD stands at -1.17 as nearly 54% of traders are short. Yesterday, the ratio was at -1.22 as 55% of open positions were short. In detail, long positions are 2.7% lower than yesterday and 9.9% stronger since last week. Short positions are 7.2% lower than yesterday and 6.3% stronger since last week. Open interest is 5.2% weaker than yesterday and 7.1% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.
British Pound Bias Calls for Weakness
GBPUSD – The ratio of long to short positions in the GBPUSD stands at 1.22 as nearly 55% of traders are long. Yesterday, the ratio was at 1.03 as 51% of open positions were long. In detail, long positions are 11.3% higher than yesterday and 16.0% stronger since last week. Short positions are 5.9% lower than yesterday and 16.7% weaker since last week. Open interest is 2.8% stronger than yesterday and 5.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
Japanese Yen Forecast to Gain Further
USDJPY – The ratio of long to short positions in the USDJPY stands at 5.71 as nearly 85% of traders are long. Yesterday, the ratio was at 5.79 as 85% of open positions were long. In detail, long positions are 1.5% higher than yesterday and 2.4% stronger since last week. Short positions are 2.9% higher than yesterday and 25.1% weaker since last week. Open interest is 1.7% stronger than yesterday and 3.3% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
Swiss Franc Likely to Strengthen against Dollar
USDCHF – The ratio of long to short positions in the USDCHF stands at 4.68 as nearly 82% of traders are long. Yesterday, the ratio was at 3.96 as 80% of open positions were long. In detail, long positions are 6.8% higher than yesterday and 1.2% stronger since last week. Short positions are 9.7% lower than yesterday and 22.5% weaker since last week. Open interest is 3.5% stronger than yesterday and 8.0% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.
Canadian Dollar May Appreciate Against USD
USDCAD – The ratio of long to short positions in the USDCAD stands at 1.17 as nearly 54% of traders are long. Yesterday, the ratio was at 1.28 as 56% of open positions were long. In detail, long positions are 5.4% lower than yesterday and 9.2% stronger since last week. Short positions are 4.0% higher than yesterday and 14.8% weaker since last week. Open interest is 1.3% weaker than yesterday and 11.0% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.
British Pound Forecast to decline Against Japanese Yen
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 2.04 as nearly 67% of traders are long. Yesterday, the ratio was at 1.46 as 59% of open positions were long. In detail, long positions are 8.3% higher than yesterday and 28.6% stronger since last week. Short positions are 22.3% lower than yesterday and 25.5% weaker since last week. Open interest is 4.1% weaker than yesterday and 29.9% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.
Weekly Overview
US Dollar Forecast Turns Bearish vs Euro, Japanese Yen
