US dollar bearish bets increase slowed with total net shorts reaching $28.93 billion from $24.28 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to August 4 and released on Friday August 7. The increase in net short dollar bets resulted from decreases in bearish bets on Australian dollar and significant increase in bullish bets on Japanese yen, Swiss franc and euro as euro-zone GDP decreased by 12.1% in the Q2 – markedly less than in the US. At the same time Markit reported the manufacturing activity across the euro zone expanded for the first time since early 2019. The bearish dollar bets rose again despite Institute for Supply Management report its manufacturing PMI rose to an above-expected reading of 54.2 in July. Readings above 50 indicate expansion in factory activity. Another negative factor was the US Labor Department report 1.434 million Americans filed for first-time unemployment benefits in the prior week, a rise of 14,000.
CFTC Sentiment vs Exchange Rate
August 05 2020 | Bias | Ex RateTrend | Position $ mln | Weekly Change |
CAD | bearish | negative | -1740 | -806 |
AUD | bearish | negative | -75 | 284 |
EUR | bullish | negative | 26640 | 3559 |
GBP | bearish | negative | -1202 | 851 |
CHF | bullish | negative | 1596 | 446 |
JPY | bullish | negative | 3716 | 325 |
Total | 28934 |
- Expert Says Now Looks Like a Good Time To Buy This Renewable Energy Stock Apr 30, 2024
- Optimism over corporate earnings is fueling stock indices. The Hong Kong index reached a 5-month high Apr 30, 2024
- FXTM’s Copper: Hits fresh two-year high! Apr 30, 2024
- European indices grow on the ECB’s “dovish” position. Quarterly reports of mega-companies support the broad market Apr 29, 2024
- Japanese yen shows volatility amid speculation of intervention Apr 29, 2024
- COT Bonds Charts: Speculator Weekly Changes led by 5-Year & 10-Year Bonds Apr 28, 2024
- COT Stock Market Charts: Speculator Bets led by VIX & Russell-Mini Apr 28, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal Apr 28, 2024
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024