By IFCMarkets
US dollar net long bets slid further to $33.32 billion from $34.62 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 4 and released on Friday June 10. The dollar weakening accelerated after the Institute for Supply Management’s manufacturing PMI came in lower than expected for May and Federal Reserve chair Powell commented the central bank would ‘act as appropriate to sustain the expansion’.
CFTC Sentiment vs Exchange Rate
| June 04 2019 | Bias | Ex RateTrend | Position $ mln | Weekly Change |
| CAD | bearish | positive | -3118 | -196 |
| AUD | bearish | negative | -4425 | 172 |
| EUR | bearish | positive | -12314 | 1599 |
| GBP | bearish | negative | -3791 | -1260 |
| CHF | bearish | positive | -4544 | -240 |
| JPY | bearish | negative | -5131 | 1222 |
| Total | -33322 |
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