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CFTC Commitments of Traders – Expect GBP Futures to Return to Net Long after Hawkish BOE

As suggested in the CFTC Commitments of Traders report in the week ended August 3, NET SHORT of USD index futures gained +2 340 contracts to 18 881. Speculative long positions added +1 703 contracts while shorts decreased -637 contracts. Concerning European currencies, NET LENGTH in EUR futures sank -119 contracts to 38 007. GBP futures’ NET SHORT was trimmed sharply, by -5 598 contracts, to 86. It is possible that GBP futures would return to net length next week as sterling could recover after a more-hawkish-than-expected BOE.

On safe-haven currencies, NET LENGTH of CHF futures dropped -946 contracts to 7 543 while NET SHORT of JPY futures fell -4 744 contracts to 55 190. Concerning commodity currencies, NET SHORT of AUD futures increased +1 936 contracts to 41 283 while NZD futures drifted to NET SHORT of 325 contracts during the week. NET LENGTH of CAD futures gained+2 086 contracts to 7 460 during the week.

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