Currency Analyst since 2010

CFTC: USD longs keep contracting

Here are the essentials of the latest Commitments of Traders (COT) report, released on August 2 by the Commodity Futures Trading Commission (CFTC) for a week ended July 30.

The value of the dollar’s net long position declined from $28.69B on a week ended July 23 to $24.45B in a week ended July 23. Short positions on most major currencies, including JPY, GBP, CHF and CAD, fell in the week but speculators increased bets against AUD.

EUR/USD. Euro short positions kept declining for a fourth week in a row and slid to 8.5K contracts.

GBP/USD. Here was a mild decline in net shorts. 

USD/JPY. JPY net shorts declined by about 5K.  

USD/CHF. CHF net shorts fell to -1K.

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

AUD/USD. AUD net shorts increased by 8.5K contracts. 

NZD/USD. NZD net shorts got smaller and are almost at 0. 

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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