New Zealand Dollar (NZD) COT Report

Speculative positioning in NZ Dollar (CME) futures, as of Tuesday 3 November 2026.

Net position

-60,015

contracts, net short

Weekly change

-2,325

contracts

Longs / shorts

19%

18,469 long, 78,484 short

52-week percentile

Crowded short

What this means

Large speculators are net short New Zealand Dollar futures by 60,015 contracts. In the latest week their net position changed by -2,325 contracts, towards the short side. Against the past year, positioning scores 6 out of 100. Speculators are more net short than in at least 90% of the past year's weeks, so the short side is crowded. A positive surprise could trigger a sharp short squeeze.

New Zealand dollar futures trade on the CME. A net long position is a bet on NZD/USD rising.

NZD positioning over the past year

Nov 2025 Net speculative position, contracts. Green = net long, red = net short. 3 Nov 2026

Range over this period: -65,189 to +10,518 contracts.

Recent weeks

Week of	Long	Short	Net	Change	Percentile
3 Nov 2026	18,469	78,484	-60,015	-2,325	6
27 Oct 2026	18,062	75,752	-57,690	+459	8
20 Oct 2026	21,725	79,874	-58,149	-11,148	6
13 Oct 2026	24,619	71,620	-47,001	-17,655	31
6 Oct 2026	27,821	57,167	-29,346	-12,031	79
29 Sep 2026	23,338	40,653	-17,315	-5,935	90
22 Sep 2026	21,571	32,951	-11,380	-21,898	94
15 Sep 2026	32,859	22,341	+10,518	+4,286	100
8 Sep 2026	26,110	19,878	+6,232	+14,253	100
1 Sep 2026	11,300	19,321	-8,021	+6,218	100
25 Aug 2026	9,545	23,784	-14,239	+18,381	100
18 Aug 2026	6,344	38,964	-32,620	+6,966	79

Non-commercial (speculative) positions in futures contracts. Source: CFTC Commitments of Traders, Legacy futures-only report. Published here 48 hours after the CFTC release.

NZD pairs

Trend, volatility and squeeze for the pairs this positioning affects.

NZD/USD NZD/JPY

Other currencies

All currencies USD COT EUR COT GBP COT JPY COT CHF COT CAD COT AUD COT

See whether price agrees with the positioning

COT data moves once a week. The NZD pairs move every minute. Markets Mastered combines positioning with squeeze, trend and currency strength into one convergence score per instrument, refreshed every 15 minutes.

Convergence score blending squeeze, trend, strength and COT positioning

Live currency strength for NZD across seven timeframes

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NZD COT questions

Are speculators long or short the New Zealand Dollar?

As of 3 November 2026, large speculators are net short 60,015 contracts of NZ Dollar (CME) futures, down 2,325 contracts on the week.

Which futures contract is the NZD COT data from?

NZ Dollar (CME) futures, from the CFTC Legacy futures-only Commitments of Traders report. New Zealand dollar futures trade on the CME. A net long position is a bet on NZD/USD rising.

When is the next NZD COT report?

The CFTC publishes every Friday at 3:30pm New York time (8:30pm UK time for most of the year), covering positions held on the Tuesday. This page updates 48 hours after each release.