As suggested in the CFTC Commitments of Traders report in the week ended August 17, NET SHORT of USD index futures dropped -115 contracts to 19 211. Speculative long positions slipped -515 contracts while shorts decreased -400 contracts. Concerning European currencies, NET LENGTH in EUR futures jumped +23 783 contracts to 57 640. GBP futures’ NET LENGTH fell -2 419 contracts to 4 651. We expect net length in EUR and GBP futures to fall in the coming weeks due to the sharp selloff.
On safe-haven currencies, NET LENGTH of CHF future fell -4 131 contracts to 5 547 while while NET SHORT of JPY futures gained +2 551 contracts to 63 208. Concerning commodity currencies, NET SHORT of AUD futures added +1 054 contracts to 50 367 while that of NZD futures dropped -797 contracts to 235 during the week. NET LENGTH of CAD futures sank -3 805 contracts to 2 660 during the week. Commodity currencies were worse off amidst the loss in risk appetite. We expect this trend to continue in the coming week.