Config.
Marché
Rapport
Unité

COT ZAR/USD

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

FX · CME

What is the ZAR/USD futures contract?

ZAR/USD

Satellite of EUR/USD

A long means…

Exposure to a rise in the rand versus the dollar — the inverse of spot USD/ZAR.

What is this?

The rand is South Africa’s currency — sensitive to Pretoria’s rates, to gold and platinum, and to risk appetite. The CME future is quoted in dollars per rand: when the rand strengthens, the contract rises. Interbank spot is written USD/ZAR, the other way round. Mining exporters and corporates hedge that rate; managers take a South Africa exposure.

At expiry, rand are delivered against dollars. Most positions are closed or rolled beforehand. A net long here is not a bet that the dollar is rising against the rand.

Pitfalls

  • Long ZAR/USD is not long spot USD/ZAR.
  • Not a South African equity index.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.