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CFTC Commitments of Traders – Net Length on USD Index Futures Halved on Improved Risk Appetite

As suggested in the CFTC Commitments of Traders report in the week ended December 17. NET LENGTH in USD Index declined -10 565 contracts to 11 696. Speculative long positions fell -7 706 contracts and short positions gained +2 859 contracts. Concerning European currencies, NET SHORT for EUR futures fell -1 949 contracts to 65 694. NET SHORT for GBP futures dived -16 859 contracts to 16 859.The UK parliament approved PM Boris Johnson’s Withdrawal Agreement, making the Brexit on January 31 almost a done deal. However Johnson’s insistence to not extend the transition period would significantly shorten the duration for trade negotiations with the EU. However, sterling could remain volatile next year as UK and EU proceed to trade negotiations.On safe-haven currencies, Net SHORT for CHF futures plunged -9 794 contracts to 11 074. NET SHORT of JPY futures fell -1 620 contracts to 42 062. On commodity currencies, NET SHORT for AUD futures jumped -9 770 contracts to 46 578. Speculative long positions declined -13 320 contracts while shorts declined -3 550 contracts. Separately, NET SHORT for NZD plunged -17 123 contracts to 8 217 contracts last week. NET LENGTH for CAD futures declined -9 550 contracts to 11 191.

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