CFTC Positioning Report: Speculative bets on the Euro regained pace

Pablo Piovano FXStreet

The latest CFTC Positioning Report, covering the week to 13 May, captures a period when investors were weighing interest rate decisions from major central banks alongside April’s US CPI release. The data offers a snapshot of market sentiment at a time of heightened focus on inflation dynamics and policy outlooks.

Net long positions in the euro (EUR) rose to their highest level since early September 2024, reaching around 84.8K contracts. Meanwhile, commercial traders—largely hedge funds—boosted their net short positions to approximately 134.3K contracts. Open interest also pushed higher, topping 750K contracts. Despite the rise in speculative longs, EUR/USD extended its decline, falling to fresh monthly lows near 1.1060, its weakest level in several weeks.

Non-commercial traders trimmed their net short positions on the US Dollar (USD) to just over 600 contracts, marking the lowest level in two weeks, even as overall open interest continued to decline. The US Dollar Index (DXY) staged a notable rebound following the Fed’s hawkish hold, briefly testing the key 102.00 level, its highest point in five weeks.

Speculators pared back their net long positions in the Japanese yen (JPY) to a four-week low of around 172.3K contracts. At the same time, commercial traders trimmed their net short exposure to just under 185K contracts, while open interest slipped to a three-week low. Meanwhile, USD/JPY pushed higher, breaking above the 146.00 mark to reach a six-week high.

Net long positions in the British pound (GBP) fell to a two-week low of around 27.2K contracts, accompanied by a dip in open interest. GBP/USD extended its pullback from 2025 highs above 1.3400, retreating toward the 1.3140 area as markets continued to digest the BoE’s split decision on rate cuts.

Speculative net long positions in Gold fell further to around 161.2K contracts, the lowest level since February 2024, accompanied by a drop in open interest. Gold prices edged lower as well, testing the key $3,200 per troy ounce.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Japan's Takaichi secures historic victory in snap election

In Japan, Prime Minister Sanae Takaichi's coalition secured a supermajority in the lower house, winning 328 out of 465 seats following a rare winter snap election. This provides her with a strong mandate to advance her legislative agenda.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.