Report published August 28, 2026
FX Sentiment Report: Sizeable CAD Short Narrows as Specs Signal Fresh Bearish JPY View
Source and citation context
- Issuer
- Scotiabank
- Report date
- August 28, 2026
- Analysis as of
- August 18, 2026
Authors / editors: Shaun Osborne, Eric Theoret
Finvaulta summarizes Scotiabank's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
CFTC positioning data for the week ended August 18 showed aggregate USD net longs edging down $1.2bn to $35.6bn. The CAD short narrowed slightly to $11.4bn but remains the largest net short, while bearish bets against the JPY expanded to $4.1bn.
Key Takeaways
- 1.Aggregate USD long speculative positioning declined modestly by $1.2bn w/w to $35.6bn ex-Gold as of August 18.
- 2.CAD remains the largest net short position at $11.4bn, narrowing by $1.1bn w/w as gross longs rose and gross shorts fell for a fifth straight week.
- 3.Bearish JPY positioning widened by $0.8bn w/w to $4.1bn, marking its first deterioration since mid-summer intervention adjustments.
Table of Contents
- Analyst
- Sizeable CAD Short Narrows As Specs Signal Fresh Bearish JPY View
- CAD — NON-COMMERCIAL POSITIONING
Report data
Sentiment - USD mns (18-Aug Bias, Trend, Position, w/w chg.) — as of August 18, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Total USD Speculative Long Position (ex-Gold) | 35605 USD mn | Aggregate speculative USD long position against reporting currencies |
| CAD Net Speculative Position | -11380 USD mn | CAD non-commercial net short position narrowed |
| JPY Net Speculative Position | -4142 USD mn | JPY non-commercial net short widened |
| EUR Net Speculative Position | -8550 USD mn | EUR non-commercial net short remained relatively stable |
| MXN Net Speculative Position | 2328 USD mn | Only reporting currency held net long |
Reports in this series
FX Sentiment Report is shown in chronological order through this edition, published on August 28, 2026.
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Authors / Editors
Reported Data Context
- Total USD Speculative Long Position (ex-Gold): 35605 USD mn (Week ended 2026-08-18) · Source: CFTC / Macrobond / Scotiabank FICC Strategy
- CAD Net Speculative Position: -11380 USD mn (Week ended 2026-08-18) · Source: CFTC / Macrobond / Scotiabank FICC Strategy
- JPY Net Speculative Position: -4142 USD mn (Week ended 2026-08-18) · Source: CFTC / Macrobond / Scotiabank FICC Strategy
- EUR Net Speculative Position: -8550 USD mn (Week ended 2026-08-18) · Source: CFTC / Macrobond / Scotiabank FICC Strategy
- MXN Net Speculative Position: 2328 USD mn (Week ended 2026-08-18) · Source: CFTC / Macrobond / Scotiabank FICC Strategy