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Currency strength today

Which major currencies do speculators favour in the futures market this week? Eight currencies ranked from the CFTC's weekly report, with the change and a one-year line for each.

Education only — from the CFTC Commitments of Traders report (US government data, currency futures and the US dollar index); not investment advice.

Currency3-year index6-month indexNet position Week's changeLongs1 year

Tap a column title to sort. Net = large speculators' long minus short contracts.

Runs in your browser; nothing you type is sent anywhere. For learning and planning only, not financial advice. Check your broker's contract specification before trading.

Strength from positioning, not from price

Most currency strength meters compare price changes. This one compares positioning: how large speculators (the CFTC's "non-commercial" traders) hold each currency's futures in Chicago, and the US dollar index futures for the dollar. A currency at the top is held more heavily by speculators, compared with its own last three years, than the ones below it.

The two scales

The 3-year index places this week's net position between its lowest (0) and highest (100) of the last three years, so currencies with very different contract sizes can be compared. The 6-month index does the same over 26 weeks and shows the recent turn. An example: the yen at 70 on the 3-year scale and 82 on the 6-month scale means speculators have been adding yen longs lately, to well above their usual level.

Reading it with care

The futures here are quoted against the dollar, so "long euro" means long EUR/USD. The data are weekly and three days old, and positions can stay one-sided for a long time. Use the ranking as background next to your chart, not as a buy or sell call.

For price-based context see the forex volatility table and the correlation matrix; for gold, gold positioning today.

Questions

How is currency strength measured here?

By large speculators' net futures position in each currency, scaled 0-100 against its own last three years, from the CFTC Commitments of Traders report.

How often does it change?

Once a week: the CFTC publishes on Friday with positions from the Tuesday before.

Why is the dollar measured differently?

There is no dollar future against itself in Chicago, so the US dollar index futures on ICE are used.

Can I trade the strongest against the weakest currency?

This page shows positioning only and makes no trade calls. One-sided positioning can last for months; check price action and risk first.

Practise and trade with a plan

See fair value gaps, order blocks and liquidity drawn for you on live charts in ICC Charts, or train your eye in the free Chart Challenge game.

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