Dollar bearish bets increase slowed after better than expected July jobs report

August 17, 2020

By IFCMarkets.com

US dollar net short bets increase slowing continued with total net shorts reaching $32.13 billion from $28.93 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 11 and released on Friday August 14. The increase in net short dollar bets mainly resulted from decrease in bearish bets on British Pound and significant increase in bullish bets on Swiss franc and euro as industrial production and trade balance reports from Germany and France for June were better than expected. At the same time the Labor Department reported US added above-expected 1.76 million jobs in July, while data showed 1.186 million Americans filed for first-time benefits, a decline of 249,000.. The bearish dollar bets rose again despite Institute for Supply Management report its Services purchasing managers index jumped to above-expected reading of 58.1 in July.

CFTC Sentiment vs Exchange Rate

August 11 2020BiasEx RateTrendPosition $ mlnWeekly Change
CADbearishpositive-2221-481
AUDbearishpositive-249-174
EURbullishpositive293142674
GBPbearishpositive-230972
CHFbullishpositive2340744
JPYbullishpositive3171-545
Total32125

 

commitment of traders net long short
 

 

commitment of traders weekly change
 

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Market Analysis provided by IFCMarkets.com