AUDUSD

Speculators Hold the Largest Australian Dollar Short in CFTC Data Back to 2012, and Pay Carry to Hold It

Speculators held a net short of 117,299 Australian dollar futures contracts on Tuesday, October 13, the largest in the CFTC's own weekly data back to 2012. Speculators here means CFTC non-commercial traders. They were short 215,688 contracts against 98,389 long, on open interest of 339,464, while Australia's policy rate of 4.60 percent sits above the US midpoint of 3.875 percent. We say "back to 2012" because before that year we read only about one week in seven of the CFTC file. Measured against open interest the position is ordinary, and the data we hold is ten days old. The CFTC publishes its Commitments of Traders report on Fridays for positions held the Tuesday before. The report for October 13 is the…