Dollar strengthened despite slower GDP growth

August 7, 2019

By IFCMarkets

US dollar net long bets increased significantly to $18.71 billion from $15.32 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to July 30 and released on Friday August 2. The dollar strengthening continued ahead of Federal Reserve July 30-31 meeting despite the Bureau of Economic Analysis report US gross domestic product slowed from April to June.

 

CFTC Sentiment vs Exchange Rate

July 30 2019 Bias Ex RateTrend Position $ mln Weekly Change
CAD bullish negative 1652 -690
AUD bearish negative -3673 -313
EUR bearish positive -7525 -2088
GBP bearish neutral -6847 -738
CHF bearish positive -1829 -154
JPY bearish positive -486 597
Total -18707

 

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