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CFTC Commitments of Traders – Bets on Falling Euro Soared amidst Fresh Lockdown Measures

As suggested in the CFTC Commitments of Traders report in the week ended October 27, NET SHORT of USD Index futures slipped -412 to 1 254 contracts. Speculative long positions increased +687 contracts and short positions added +275 contracts. Concerning European currencies, NET LENGTH in EUR futures dived -10 388 contracts to 155 555. Second wave of coronavirus outbreak has hit Europe, causing countries, such as Germany and France, to implement new lockdown measures. Meanwhile, ECB indicated that it would add more monetary policy easing measures, likely in December. NET SHORT of GBP futures rose +4 660 contracts to 6 660 contracts during the week.  

On safe-haven currencies, NET LENGTH on CHF futures added +1 104 contracts to 15 503. By contrast, NET LENGTH on JPY futures rose +3 710 contracts to 17 893. Concerning commodity currencies, AUD futures’ NET LENGTH added +2 135 contracts to 8 890 contracts. Bets were trimmed on both sides. Separately, NZD futures’ NET LENGTH added +393 contracts to 6 995 during the week. Meanwhile, NET SHORT for CAD futures decreased -1 006 contracts to 18 069 contracts.

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