SWISS FRANC/USD COT Report

Neutral – Balanced Trade

Price and institutional positioning are not aligned.

Price Action

• Current Week (2026-03-03 → 2026-03-10): ▼ -0.11%
• Previous Week (2026-02-24 → 2026-03-03): ▲ +0.58%
• Pre-cutoff POC (2026-03-03 → 2026-03-10): 0.78
• Post-cutoff POC (2026-03-10 → 2026-03-13): 0.78
• Friday 3PM price (2026-03-13): ▼ 0.7905
• Friday vs Post-cutoff POC: +0.0105 (▲ +1.35%)

What's Changed?

• Open Interest — 123,584 (▲ +3,365 WoW)
• Asset Managers — 5,888 long / 60,251 short → -54,363 net (-44.0% of OI)
• Net ▲ increased by 164 contracts
• Leveraged Funds — 10,670 long / 6,952 short → +3,718 net (3.0% of OI)
• Net ▼ reduced by 534 contracts
• Swap Dealers — 60,454 long / 6,688 short → +53,766 net (43.5% of OI)
• Net ▲ increased by 1,381 contracts
• Other Reportables — 1,000 long / 468 short → +532 net (0.4% of OI)
• Net ▲ increased by 964 contracts

Positioning Summary

• Asset Managers increased net exposure during the reporting week.
• Leveraged Funds increased downside exposure, leading directional pressure.
• Dealer Intermediaries reduced inventory, signaling balance sheet contraction.
• Dealer spreading increased, indicating active internal hedging amid elevated trade flow.
• Open interest increased, indicating expanding market participation.

Risk Flags

• Downside price movement was led by leveraged fund short expansion.
• Dealer inventory contraction suggests reduced liquidity support.