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CFTC Commitments of Traders – Euro Rallied to Highest in 2 Months after European Commission’s Stimulus Plan

As suggested in the CFTC Commitments of Traders report in the week ended May 26, NET LENGTH in USD Index dropped -2 498 contracts to 14 799. Speculative long positions decreased -3 476 contracts and short positions were down -978 contracts. Concerning European currencies, NET LENGTH in EUR futures gained +2 660 contracts to 75 222. Further increase in NET LENGTH is likely as the single currency rallied to a 2-month high last Friday. The market was thrilled by European Commission’s stimulus plan, worth of 750B euro, to support coronavirus recovery. NET SHORT for GBP futures gained +3 268 contracts to 22 257 for the week.

On safe-haven currencies, NET LENGTH on CHF futures added +11 contracts to 8 739. NET LENGTH on JPY futures soared +7 137 contracts to 34 607. On commodity currencies, NET SHORT for AUD futures increased +980 contracts to 40 538. Speculative long positions added +229 contracts while shorts gained +1 209 contracts. Separately, NET SHORT for NZD futures dropped -824 contracts to 15 043 during the week while NET SHORT for CAD futures decreased -1 102 contracts to 33 954.

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