Dollar bullish bets rise after solid GDP report

November 5, 2018

By IFCMarkets

US dollar net long bets edged up last week to $26.46 billion from $26.16 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to October 30 and released on Friday November 2. The dollar bullish bets grew as US economic growth in third quarter slowed less than expected: Q3 GDP grew 3.5% over the same period a year ago after 4.2% growth in the second quarter when a 3.3% increase was expected.

 

CFTC Sentiment vs Exchange Rate

October 30 2018 Bias Ex RateTrend Position $ mln Weekly Change
CAD bearish positive -736 -184
AUD bearish positive -4997 -14
EUR bearish positive -4630 -334
GBP bearish positive -4167 -355
CHF bearish neutral -1806 344
JPY bearish negative -10128 193
Total -26464

 

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