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CFTC Commitments of Traders – Net Short in GBP Futures could Trim on Signs of Resolving Brexit Deadlock

As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327 contracts to 133 960. NET SHORT of GBP futures rose +2 051 contracts to 19 746 contracts during the week. British pound climbed higher as there are signs that the UK and EU are reaching a deal. Net short will likely decline in the coming week.

On safe-haven currencies, NET LENGTH on CHF futures dropped -940 contracts to 14 924. By contrast, NET LENGTH on JPY futures plunged -12 227 contracts to 29 667. Concerning commodity currencies, NET SHORT of AUD futures declined -2 597 contracts to 6 123. Separately, NZD futures’ NET LENGTH increased +1 151 contracts to 8 868 during the week. Meanwhile, NET SHORT for CAD futures decreased 990 contracts to 20 359 contracts.

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