Speculative positioning in the New Zealand dollar turned marginally less bearish, according to the latest data on CFTC NZD speculative net positions released on 31 July 2026.
Net speculative positions in the NZD improved to -47.7K from a previous level of -50.0K, indicating a small reduction in net short exposure. While traders remain predominantly short the currency, the modest shift suggests some easing in negative sentiment toward the New Zealand dollar.
The change points to a cautious recalibration rather than a decisive turnaround, as market participants reduce, but do not reverse, their bearish bets on the NZD.
