It’s no surprise that euro longs are bailing with all the turmoil in France. We saw how much in the latest CFTC data, which covers futures up to Tuesday’s close.
Net spec longs fell to 44K contracts from 67K. I wouldn’t be surprised if more cashed out later this week due to the pain hitting French bonds.
The other notable moves in the IMM report were large jumps in AUD spec shorts and particularly in CAD spec shots which jumped to 129K from 92K.
