Mon, Jan 18, 2021 @ 02:10 GMT
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CFTC Commitments of Traders – Sterling and Loonie Strengthened while US Dollar Lacked Direction

As suggested in the CFTC Commitments of Traders report in the week ended December 1, NET SHORT of USD Index futures added  +321 contracts to 3 075. Speculative long positions increased +4 061 contracts and short positions gained +4 382 contracts. The greenback continued to move without direction. Concerning European currencies, NET LENGTH in EUR futures rose +1 644 contracts to 139 894. NET SHORT of GBP futures declined -9 231 contracts to 7 899 contracts during the week. Net short should fall further, if not drifting to net length, in the coming week. British pound rose to the highest in a year against US dollar as the market expects a Brexit deal to be reached soon.

On safe-haven currencies, NET LENGTH on CHF futures slipped -335 contracts to 14 651. By contrast, NET LENGTH on JPY futures gained +7 261 contracts to 47 503. Concerning commodity currencies, NET SHORT of AUD futures almost doubled to 10 800 contracts. Separately, NZD futures’ NET LENGTH increased 746 contracts to 9 058 during the week. Meanwhile, NET SHORT for CAD futures gained +4 397 contracts to 21 243 contracts. We anticipate net short to drop in the coming week as the loonie climbs higher in accompaniment with crude oil price.



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