EUR

Speculators Hold the Most Euro Futures Shorts Since 1999.

With Sterling, the Bet Is the Largest Since 2019.

Speculators are short 342,352 euro futures contracts, the most in CFTC data back to 1999, and their euro and sterling net short is the largest since 2019. The figures come from the CFTC report for Tuesday October 6. Combined, speculators (CFTC non-commercial traders) are net short 196,943 euro and sterling contracts, 17.33% of open interest, a share last exceeded in October 2019. The shorts were added while both currencies fell, and they come in a month when the European Central Bank raised rates and markets priced Bank of England hikes. The data is a single source, and in it crowding has not reliably predicted the next move in EUR/USD. The CFTC publishes the Commitments of Traders report every Friday for…