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CFTC Commitments of Traders – Trades on USD Index Futures Continued to Shrank as US Real Yields Stay Negative

As suggested in the CFTC Commitments of Traders report in the week ended August 11, NET SHORT for USD Index futures rose +1 707 to 8 182  contracts. Speculative long positions dropped -2 152 contracts and short positions were down -445 contracts. Fed’s ultra monetary easing has sent yields to exceptionally low levels. For instance, real yields on 10-Year Treasuries have fallen to, and been staying at, about -1% since late July. Net short will likely rise further in the coming week as the greenback’s fall seems have more to go. Concerning European currencies, NET LENGTH in EUR futures jumped +19 103 contracts to a new record high of 199 751. NET SHORT for GBP futures declined -11 906 contracts to 2 821 for the week.

On safe-haven currencies, NET LENGTH on CHF futures jumped +5 505 contracts to 17 162. NET LENGTH on JPY futures fell -4 413 contracts to 27 016. Commodity currencies under our coverage remained in NET SHORT positions. AUD futures’ NET SHORT rose 2 440 to 3 488 contracts. Separately, NZD futures’ NET SHORT dropped -1 269 contracts to 1 79 during the week. Meanwhile, NET SHORT for CAD futures rose 6 352 contracts to 29 547.

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