EUR/USD COT positioning
Leveraged funds are net short 78,559 contracts in EUR/USD futures as of Nov 3, 2026, with positioning at the bottom of its 52-week range. From the weekly CFTC Commitments of Traders report.
Positions as of Tue, Nov 3, 2026 · published Fri, Nov 6, 2026 · Source: CFTC
Leveraged funds added to their short position over the past week. That leaves positioning at the very bottom of its 52-week range — an extreme, washed-out reading.
WAVG reads this the same way every week across every market, names the factors behind the bias, and flags when positioning reaches the edge of its 52-week range.
What moves EUR/USD positioning
The euro is the anti-dollar — the largest currency futures contract by open interest at the CME, traded by leveraged funds (tactical), asset managers (real-money flows), and dealers. Because it sits on the other side of most dollar bets, EUR/USD positioning is often read as a proxy for broad dollar sentiment.
The driver is the ECB-versus-Fed rate path and the growth divergence between the euro area and the US. When funds crowd to one extreme on a single rate-differential story, the euro has repeatedly reversed as that story gets fully priced.
This week's report
| Trader group | Long | Short | Net |
|---|---|---|---|
| Leveraged funds | 119,238 | 197,797 | −78,559 |
| Asset managers | 485,147 | 340,222 | +144,925 |
| Dealers | 58,857 | 168,142 | −109,285 |
Contracts held long, short and net as of Nov 3, 2026 (published Nov 6, 2026). Source: CFTC.
The last 13 weeks
| Week ending | Leveraged funds net | Change | Index (52w) |
|---|---|---|---|
| Aug 11, 2026 | −60,600 | −8,395 | 4 |
| Aug 18, 2026 | −57,716 | +2,884 | 6 |
| Aug 25, 2026 | −38,359 | +19,357 | 22 |
| Sep 1, 2026 | −38,173 | +186 | 22 |
| Sep 8, 2026 | −33,285 | +4,888 | 26 |
| Sep 15, 2026 | −28,156 | +5,129 | 31 |
| Sep 22, 2026 | −26,694 | +1,462 | 32 |
| Sep 29, 2026 | −39,265 | −12,571 | 21 |
| Oct 6, 2026 | −44,261 | −4,996 | 17 |
| Oct 13, 2026 | −68,001 | −23,740 | 0 |
| Oct 20, 2026 | −68,840 | −839 | 0 |
| Oct 27, 2026 | −71,574 | −2,734 | 0 |
| Nov 3, 2026 | −78,559 | −6,985 | 0 |
Net position of leveraged funds at each weekly reporting date, the change from the week before, and the COT index for that week. The index compares a week against this market’s own 52-week range: 0 is the low end of that range, 100 the high end — a high reading is not the same as a long position. Source: CFTC.
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