Forex

CFTC Commitments of Traders – USD Index Futures Drifted to Net Short

As suggested in the CFTC Commitments of Traders report in the week ended June 16, USD Index drifted to NET SHORT of 5 344 contracts. Speculative long positions decreased -10 080 contracts and short positions slipped -47 contracts. Traders trimmed bets on US dollar as risk appetite lifted other currencies. Concerning European currencies, NET LENGTH in EUR futures soared +21 483 contracts to 117 132. NET SHORT for GBP futures declined -8 050 contracts to 15 998 for the week. We expect to see the trend reverse in the coming week. Market sentiment was hurt by resurgent coronavirus cases in Beijing and some US states.

On safe-haven currencies, NET LENGTH on CHF futures dropped -160 contracts to 1 606. NET LENGTH on JPY futures gaomed +4 648 contracts to 22 110. On commodity currencies, NET SHORT for AUD futures dived -30 043 to 6 532. Speculative long positions increased +1 773 contracts while shorts plummeted -28 270 contracts. Separately, NET SHORT for NZD futures fell 9 309 contracts to 1 932 during the week while NET SHORT for CAD futures added +657 contracts to 25 486.

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