CFTC: net USD longs declined
FX BAZOOKA - According to the latest CFTC report, released om Aug. 15, large speculators reduced their net USD longs from $29.41 billion on Aug. 5 to $27.00 billion on Aug. 12. This was the first decline in positions value after 3 weeks of growth. The calculation considers the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
However, the amount of USD contracts rose last week from 129K contracts to 144K contracts. The total US dollar contracts calculation takes into account more currencies: the euro, British pound, Japanese yen, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar and the Mexican peso.
EUR net short positions rebounded last week from the most bearish level since Aug. 2012, but still remain heavily bearish.