Eurozone Traders' Bearish Sentiment Deepens as Euro Weakness Continues

The Eurozone's speculative traders have grown increasingly bearish on the euro, as evidenced by the latest Commodity Futures Trading Commission (CFTC) data. The CFTC EUR NC Net Positions fell to €-60K from €-58.1K in the latest reporting period.

This marks a further increase in net short positioning against the euro, indicating that speculative traders expect the currency to weaken further against major currencies, particularly the U.S. dollar.

According to the CFTC's Commitments of Traders (COT) report, the 'NC' category, often referred to as speculative positioning, includes hedge funds and other large speculators. A negative net position means that short contracts outnumber long contracts, signaling bearish sentiment.