FX Sentiment Report

The Scotiabank FX Sentiment Report details a second consecutive week of growth in aggregate USD long positions, reaching $16.5bn, driven largely by a sharp increase in net short positions for the Canadian Dollar.

Key Takeaways

• 1.The aggregate USD long position increased by $5.9bn to $16.5bn, approaching its April peak of $17.4bn.
• 2.Speculative sentiment for the Canadian Dollar (CAD) saw a significant bearish shift, with the net short widening by $2.7bn to reach $5.0bn.
• 3.The Australian Dollar (AUD) remains the largest net long position despite a pullback from its near-record peak, primarily due to the liquidation of gross longs.

Table of Contents

• Aggregate USD Long Builds For A 2nd Week, Closing In On April Peak
• CAD — NON-COMMERCIAL POSITIONING
• Aggregate USD Position
• USD Value Positions - EUR, GBP, JPY, CHF
• USD Value Positions - CAD, AUD, NZD, MXN
• EUR: Gross Long, Short and Net
• GBP: Gross Long, Short and Net
• JPY: Gross Long, Short and Net
• EUR vs Net Position
• GBP vs Net Position
• JPY vs Net Position
• CHF vs Net Position
• AUD vs Net Position
• NZD vs Net Position
• MXN vs Net Position
• WTI Oil vs Net Position
• Gold vs Net Position
• S&P 500 vs Net
• 10-yr UST vs Net Position
• Natural Gas vs Net Position

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