CFTC: USD longs contracted

Here are the essentials of the latest Commitments of Traders (COT) report, released on July 26 by the Commodity Futures Trading Commission (CFTC) for a week ended July 23.

The value of the dollar's net long position declined from $29.6B on a week ended July 16 to $28.7B on a week ended July 23. The figure contracted for the first time after four weeks of growth. 

EUR/USD. Euro short positions kept declining for a third week in a row, contracting by 9K contracts.

GBP/USD. Net short positions on GBP extended growth, rising by 13K contracts. 

USD/JPY. JPY net shorts remained almost unchanged. 

AUD/USD. AUD net shorts decreased by 8K contracts. 

NZD/USD. NZD net shorts remained small. 

USD/CAD. CAD net shorts kept contracting for a third consecutive week. 

USD/CHF. CHF shorts remained unchanged. 

It’s necessary to note that the figures cited above are always a week old at the time of their release. Never the less, CFTC data gives a good oversight into how the market is positioned and if/how these positions are being unwound. Although the CME speculators represent a small fraction of trading in the currency markets, their trades are widely seen as typical of hedge fund investors' currency movements. 

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