Another week, another record short in the euro

According to the CFTC, for the 4th straight week, net shorts in the euro rose to a record high dating back to its introduction in Jan ’99. For the week ended Tuesday, net shorts rose to 72k contracts vs 59k last week and has almost tripled over the past 5 weeks. The ever growing trade has seen the euro move from 1.395ish when shorts broke to a record high on Tuesday Feb 2nd, down to 1.35ish on Tuesday and 1.362ish today. At the same time and conversely to the trend over the past year, gold net longs rose to a 3 week high at 200k contracts. Net longs in crude also rose to a 3 week high.

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