Dollar strengthens as US economy slows less than expected

May 7, 2018

By IFCMarkets

US dollar net short bets fell further to $15.14 billion from $19.77 billion against the major currencies during the previous week , according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 1 released on Friday May 4. The dollar strengthening continued as US GDP slowed in the first quarter less than expected: Q1 GDP grew 2.3% after 2.9% expansion in the last three months of 2017.

 

CFTC Sentiment vs Exchange Rate

May 01 2018 Bias Ex RateTrend Position $ mln Weekly Change
CAD bearish negative -2144 -183
AUD bearish positive -425 -166
EUR bullish negative 18070 -1898
GBP bullish negative 2243 -1021
CHF bearish negative -2441 -1135
JPY bearish positive -160 -227
Total 15144

 

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