Mon, Oct 18, 2021 @ 03:47 GMT
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CFTC Commitments of Traders – Loonie Fell In Line with Crude Oil’s Decline

As suggested in the CFTC Commitments of Traders report in the week ended July 20, NET SHORT of USD index futures gained +931 contracts to 12 188. Speculative long positions added +1 280 contracts while shorts increased +349 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -13...

CFTC Commitments of Traders – Traders Increased Bets in USD Futures amidst Price Rebound

As suggested in the CFTC Commitments of Traders report in the week ended July 6, NET SHORT of USD index futures gained +8 017 contracts. Speculative long positions added +2 309 contracts while shorts decreased -5 708 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -9 956...

CFTC Commitments of Traders – Net Longs Declined in European Currencies

As suggested in the CFTC Commitments of Traders report in the week ended June 29, NET SHORT of USD index futures slipped -62 contracts. Speculative long positions added +629 contracts while shorts increased +567 contracts. Concerning European currencies, NET LENGTH in EUR futures dropped -1 911 contracts to 87...

Gold Rarely Declines with Real Yield. This Time Due to USD Strength

Gold price got dumped, falling to the lowest level in over 2 months. Losing over -7% against USD in June, the selloff this time has been driven by strong US dollar, rather than higher yields. The greenback is darling of the market recently, thanks to strong economic data, a...

Japanese Yen Prone to be Worst Performer against US Dollar in 1H21

Japanese yen is the worst performing major currency against US dollar in 1H21. A more hawkish Fed and actual inflation (divergent monetary policy), widening yield differential and inflation expectations are the key drivers to yen’s depreciation. After price correction, persistence of these drivers could further strengthen USDJPY, though to...

CFTC Commitments of Traders – Major Currencies Weakened against USD on Hawkish Fed

As suggested in the CFTC Commitments of Traders report in the week ended June 22, NET SHORT of USD index futures decreased -1 793 contracts. Speculative long positions slipped -1 114 contracts while shorts were down -2 907 contracts. The greenback gained ground after the Fed turned more hawkish...

CFTC Commitments of Traders – Expect USD Net Short to Drop Next Week on Greenback’s Rebound

As suggested in the CFTC Commitments of Traders report in the week ended June 15, USD index futures drifted to NET SHORT of 2 303 contracts. Speculative long positions dropped -6 273 contracts while shorts decreased -2 219 contracts. Concerning European currencies, NET LENGTH in EUR futures soared +10...

CFTC Commitments of Traders – Bets on Higher Euro Trimmed as ECB Refrained from Hinting “Taper”

As suggested in the CFTC Commitments of Traders report in the week ended June 8, NET LENGTH of USD index futures dropped -1 212 contracts to 2 891. Speculative long positions rose +1 679 contracts while shorts increased +2 891 contracts. Concerning European currencies, NET LENGTH in EUR futures...

CFTC Commitments of Traders – Traders Continued to Bet Higher Loonie as Driven by Crude Oil’s Rally

As suggested in the CFTC Commitments of Traders report in the week ended June 1, NET LENGTH of USD index futures added +183 contracts to 2 963. Speculative long positions rose +2 724 contracts while shorts increased +2541 contracts. Concerning European currencies, NET LENGTH in EUR futures gained +5...

CFTC Commitments of Traders – Net Length Increased for GBP as It Consolidated at 3-Year High against USD

As suggested in the CFTC Commitments of Traders report in the week ended May 25, NET LENGTH of USD index futures added +96 contracts to 2 780. Speculative long positions added +350 contracts while shorts increased +254 contracts. Concerning European currencies, NET LENGTH in EUR futures gained +4 142...

Positive Correlation between US stocks and bonds Reveal Rising Concerns over Inflation

Correlation between US stocks and bonds has turned positive and continued to rise. The phenomenon, not seen since September 2020, probably reveals increasing risk aversion, driven by rising inflation expectations. The correlation could return to negative, thus facilitating asset diversification, if inflation proves transitory and central banks could maintain...

Strong Euro Supported by Firm Data, Rising Inflation Expectations and Tapering Hopes

Following a weak first quarter, the strength in EURUSD has gathered momentum. The pair is the second strongest among majors quarter-to-date. A more upbeat economic outlook, heightened inflation forecasts and expectations of ECB’s tapering are key driving forces of the recent rally. Indicators Pointing to Stronger 2Q21 Leading indicators have pointed...

CFTC Commitments of Traders – USD Strength Lacks Momentum

As suggested in the CFTC Commitments of Traders report in the week ended May 18, NET LENGTH of USD index futures added +261 contracts to 2 684. Speculative long positions added +27 contracts while shorts dropped -234 contracts. Bets on both sides were limited as traders awaited FOMC minutes....

CFTC Commitments of Traders – Bets on Higher CAD Increased Markedly

As suggested in the CFTC Commitments of Traders report in the week ended May 11, NET LENGTH of USD index futures added +368 contracts to 2 423. Speculative long positions gained +5 095 contracts while shorts were up +4 727 contracts. Concerning European currencies, NET LENGTH in EUR futures...

Rate and Crude Oil Price to Support CAD Outlook

Year-to-date, Canadian dollar is the best performing currency against US dollar. Indeed, most of the gains has been accumulated after the April BOC meeting, at which policymakers announced QE tapering and hinted about rate hike in as soon as next year. Despite recent disappointment in macroeconomic data, we expect...

CFTC Commitments of Traders – Traders Trimmed Bets on USD Index Futures

As suggested in the CFTC Commitments of Traders report in the week ended May 4, NET LENGTH of USD index futures dropped -691 contracts to 2 055. Speculative long positions dropped -1 836 contracts while shorts were down -1 145 contracts. Net longs could trim further in the coming...

CFTC Commitments of Traders – Traders Trimmed Bets on US Dollar

As suggested in the CFTC Commitments of Traders report in the week ended April 27, NET LENGTH of USD index futures dropped -772 contracts to 2 746. Speculative long positions slipped -855 contracts while shorts were down -83 contracts. Concerning European currencies, NET LENGTH in EUR futures added +159...

US Growth and Fed’s Policy Outlook to Lift Yields Again, Lending Support to USD

Weakness of US dollar in most of April has been mainly driven by falling Treasury yields. We believe US’ strong economic growth in coming quarters, market expectations of Fed funds rate hike and the Fed’s plan to taper QE would again lift Treasury yields, lending support to the greenback....

CFTC Commitments of Traders – Net Length of CAD Futures Jumped Over 6 Times on Hawkish BOC

As suggested in the CFTC Commitments of Traders report in the week ended April 20, NET LENGTH for CAD futures soared +10 840 contracts to 13 246 contracts, compared with 2 406 contracts a week ago. Speculative longs increased while shorts dropped during the week. A hawkish BOC is...

CFTC Commitments of Traders – Net Long of Commodity Currencies Fell Across the Board

As suggested in the CFTC Commitments of Traders report in the week ended April 13, NET LENGTH of USD index futures gained +1 504 contracts to 5 953. Speculative long positions dropped -1 027 contracts while shorts fell -2 531 contracts. Concerning European currencies, NET LENGTH in EUR futures...