In short
Speculators are net short NZD (building short over 12 weeks). Positioning sits at 39% of its 12-week range (flip 18th pct of 10y, z -1.08).
Weekly net positioning
Net non-commercial (large speculator) positioning over the last 12 weeks. A rising net means speculators are building longs; a falling net means they are building shorts.
| Week (Tuesday) | Net position | Week-over-week | Open interest |
|---|---|---|---|
| Jun 9, 2026 | -22,254 | +5,471 | 149,185 |
| Jun 2, 2026 | -27,725 | -14,055 | 136,648 |
| May 26, 2026 | -13,670 | +1,666 | 91,414 |
| May 19, 2026 | -15,336 | +4,099 | 92,545 |
| May 12, 2026 | -19,435 | -141 | 86,227 |
| May 5, 2026 | -19,294 | -2,461 | 85,340 |
| Apr 28, 2026 | -16,833 | +1,229 | 83,529 |
| Apr 21, 2026 | -18,062 | -971 | 82,508 |
| Apr 14, 2026 | -17,091 | -1,266 | 80,727 |
| Apr 7, 2026 | -15,825 | +1,973 | 76,952 |
| Mar 31, 2026 | -17,798 | -1,068 | 70,805 |
| Mar 24, 2026 | -16,730 | — | 65,011 |
How to read this
The flip percentile normalizes New Zealand Dollar net positioning against roughly ten years of history: 17.7% means speculators are leaning short versus their own history. The 10-year z-score (-1.08) confirms how stretched that is. Readings above the 90th percentile (or below the 10th) flag a crowded trade prone to a sharp unwind.
Positioning is a risk gauge, not an entry signal. Extremes can persist and get more extreme. Pair this with the fundamentals and a confirming move before fading a crowded trade. See how to read the COT report and using COT data to spot reversals.
Frequently asked questions
- Are speculators net long or short New Zealand Dollar?
- As of Jun 9, 2026, large speculators are net short the New Zealand dollar, with a net position of -22,254 contracts (10,258 long vs 32,512 short) in the CFTC Commitments of Traders report.
- Is New Zealand Dollar positioning crowded right now?
- No. New Zealand Dollar positioning sits at the 17.7% flip percentile of its 10-year range (z-score -1.08), which is not an extreme. Crowding warnings trigger above the 90th or below the 10th percentile.
- What is the COT flip percentile for New Zealand Dollar?
- New Zealand Dollar's flip percentile is 17.7% — where current normalized net positioning sits within roughly 10 years of history. Above 60 is long-side versus history, below 40 short-side; above 90 or below 10 is crowded.
- When is COT data for New Zealand Dollar updated?
- Weekly. The CFTC releases the Commitments of Traders report every Friday at 3:30pm ET with positions as of the prior Tuesday. This page last updated with data as of Jun 9, 2026.