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CFTC Commitments of Traders – US Dollar Rebounded but Sustainability is in Doubt

As suggested in the CFTC Commitments of Traders report in the week ended January 26, NET SHORT of USD Index futures added +442 contracts to 14 719. Speculative long positions slipped -71 contracts, and short positions increased +371 contracts. Bets on both sides were limited as traders doubted how long greenback’s recovery will last. Concerning European currencies, NET LENGTH in EUR futures increased +1 878 contracts to 165 344. NET LENGTH of GBP futures dropped -5 740 contract to 7 965. On safe-haven currencies, NET LENGTH on CHF futures added +672 contracts to 10 092. By contrast, NET LENGTH on JPY futures fell -5 022 contracts to 44 992. Concerning commodity currencies,  NET LENGTH of AUD futures declined -4 089 contracts to 771. Separately, NZD futures’ NET LENGTH decreased -1 225 contracts to 14 758 during the week. Meanwhile, NET LENGTH for CAD futures climbed +3 444 contracts to 13 770 contracts.

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