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CFTC Commitments of Traders – USD Index Finished 2020 in Net Short, Losing 6%

As suggested in the CFTC Commitments of Traders report in the week ended December 29, NET SHORT of USD Index futures slipped -318 contracts to 14 557. Speculative long positions gained +1 106 contracts and short positions added +788 contracts. USD Index dropped about -6% last year. Concerning European currencies, NET LENGTH in EUR futures dropped -826 contracts to 143 076. NET LENGTH of GBP futures fell -1 200 contract to 4 832. The Brexit deal was reached and approved by the parliament before end-2020, erasing the uncertainty of a no-deal Brexit. Upside to British pound should be limited as the above was priced in, while the UK is ridden by a rapid surge in coronavirus cases and tough lockdown.

On safe-haven currencies, NET LENGTH on CHF futures added +543 contracts to 11 787. By contrast, NET LENGTH on JPY futures rose +1 257 contracts to 47 350. Concerning commodity currencies, NET SHORT of AUD futures gained +2 087 contracts to 6 506. Separately, NZD futures’ NET LENGTH decreased -1 120 contracts to 12 534 during the week. Meanwhile, NET LENGTH for CAD futures increased + 5 283  contracts to 15 368 contracts.

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