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CFTC Commitments of Traders – Bet on Lower USD Continued. Expect Risk Appetite to Shrink in Coming Week as Coronavirus Cases Increase in Various Countries

As suggested in the CFTC Commitments of Traders report in the week ended June 30, NET SHORT for USD Index futures dropped -339 to 4 975 contracts. Speculative long positions decreased +857 contracts and short positions declined -2 180 contracts. Bets on both sides fell as the market remained directionless. Concerning European currencies, NET LENGTH in EUR futures slumped -19 493 contracts to 98 955. NET SHORT for GBP futures gained +2 474 contracts to 20 990 for the week.

On safe-haven currencies, NET LENGTH on CHF futures gained +2 890 contracts to 4 338. NET LENGTH on JPY futures dropped -3 597 contracts to 23 861. Concerning commodity currencies, NET SHORT for AUD futures dropped -1 902 to 2 908. Speculative long positions increased +4 051 contracts while shorts added +2 149 contracts. Separately, NZD futures drifted to NET LENGTH of 356 contracts during the week. Meanwhile, NET SHORT for CAD futures added +315 contracts to 20 519.

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