CFTC BRL Non-Commercial Net Positions comes in at 68.7K

The latest CFTC BRL Non-Commercial Net Positions report, published today, indicated that net non-commercial positions in BRL reached 68.7K. This figure marks an increase from the prior period’s reading of 66.3K. As is typical for this series, no consensus estimate was available ahead of the release.

In the immediate aftermath of the data, USDBRL initially moved up by 15 pips within five minutes. However, fifteen minutes after the report’s publication, USDBRL had returned to its pre-release level, registering a 0.0 pip change from its price just before the announcement. For context, USDBRL has historically experienced a median one-hour move of 26 pips following similar releases, with the top-quarter of these events seeing moves greater than 35 pips. The observed market reaction thus far is notably smaller when compared to the typical median movement seen after past releases.