U.S. dollar net long bets slip in latest week -CFTC, Reuters data

U.S. dollar net long bets slip in latest week -CFTC, Reuters data
U.S. dollar net long bets slip in latest week -CFTC, Reuters data
© Reuters. FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – U.S. dollar net longs slid in the latest week, according to Reuters calculations and Commodity Futures Trading Commission data released on Friday.

The value of the net long dollar position declined to $1.06 billion in the week ended Aug. 17, from $3.08 billion in the previous week. U.S. dollar positioning has been net long for five straight weeks after staying net short for 16 months.

U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound and Swiss franc, as well as the Canadian and Australian dollars.

In a broader measure of dollar positioning that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the greenback posted a net long position of $796 million, down from $2.993 billion the previous week.

Despite the dip in U.S. dollar net long positioning, the greenback remained supported overall by Delta coronavirus variant concerns and expectations that the Federal Reserve could taper asset purchases under its quantitative easing program by the end of the year.

The dollar this week posted a 1% gain, the most in two months.

“Overall dollar positioning still remains relatively noncommittally small bullish,” Shaun Osborne, chief FX strategist at Scotiabank, wrote in a report after the CFTC data.

“The strong performance in the U.S. dollar in the Wednesday to Friday period, not covered in the data in this report, would nevertheless suggest next week’s figures will see a move in the U.S. dollar position in the opposite direction,” he added.

The largest positioning change was in the euro, with net longs rising to 57,640 contracts this week, from 33,857 previously.

In the cryptocurrency market, bitcoin net shorts fell to 726 contracts, in the week ended Aug. 17, from net short contracts of 1,104 the previous week. This week’s bitcoin shorts were the smallest since late March 2020.

continues to recover from the doldrums of the past few months. On Friday, it hit a three-month high of $49,163.98. From a six-month low hit in June, bitcoin has gained 67% of its value against the dollar.

Still the prospect of increased regulatory scrutiny globally has cast a somewhat dark shadow on bitcoin’s outlook and the overall crypto sector.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published.

New Brokers
2.8 rating
Buy & sell Crypto in minutes
3.0 rating
Note: Investing involves risks. You can lose your deposit. We advise you to only invest in financial products which match your knowledge and experience.
2.0 rating
Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform.
4.3 rating
eToro is the world’s leading social trading platform, with thousands of options for traders and investors.
AdonFinance
Risk Warning: The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by AdonFinance. In addition, the content of the website offers no opinion with respect to the suitability of any security or any specific investment. Trading foreign exchange, stocks, cryptocurrencies and commodities is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before any investment with any broker you need to carefully consider your targets, previous experience, and risk level. Forex trading can result in the loss of your money, as a result, you are expressly cautioned that you should never invest or trade with money that you cannot afford to lose. For the avoidance of doubt, AdonFinance's service provides Brokers reviews in the Financial market. AdonFinance, its subsidiaries, agents or affiliates will assume no responsibility whatsoever for your trading activity. © Copyright 2021 AdonFinance