- Analytics
- Market Sentiment
USD Net Longs Decline to Nine Month Low
According to the report of The Commodity Futures Trading Commission (CFTC) covering data up to May 12 the net long US dollar position fell to $ 29.13 billion from $32.25 billion. Investors reduced positive bets on the US dollar for the seventh week in a row, bringing it to the lowest level in nine months. As is evident from the Sentiment table, the broad based improvement in sentiment toward major currencies continued from the past week and the reduction in euro’s net short bets contributed the most to the fall of US dollar net long position, while only the British Pound net short position increased. The bullish US dollar sentiment continued softening as April jobs report showed nonfarm payrolls rebounded after the previous month’s slump but average hourly earnings fell, providing no sign for build up of inflation expectations. The Swiss franc and Australian dollar continue to be held net long against US dollar with every other currency held net short against the US dollar.
The euro bearish sentiment moderated further as net short position narrowed $1.50bn to $25.1bn, with euro comprising about 84% of the aggregate US dollar longs. The narrowing of euro net short position resulted mainly from short covering while investors cut also gross long positions for the second week in a row.
The Japanese yen net short position narrowed $0.8bn to $2.5bn, led by short covering as investors reduced also gross long positions. Net short bets in Japanese yen are now the third highest among the major currencies. The British pound net short bets widened $0.6bn to $3.0bn as investors increased both gross shorts and gross long positions, making the Pound net short bets the second highest among the major currencies.
The sentiment towards Australian dollar and Canadian dollar continued to improve as their net short positions narrowed by $0.3bn and $0.5bn respectively with Australian dollar held net long with $0.3 bn position while the Canadian dollar net short bets fell to $0.3bn. While investors reduced gross shorts and increased gross long bets in Australian dollar, the change in net short bets in Canadian dollars came mainly from short covering.
New Exclusive Analytical Tool
Any date range - from 1 day to 1 year
Any Trading Group - Forex, Stocks, Indices, etc.
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
Last Sentiments
- 18Mar2021Weekly Top Gainers/Losers: Canadian dollar and Japanese yen
Over the past 7 days, prices for oil, non-ferrous metals and other mineral raw materials decreased but still remained high. As a result, the currencies of the commodity countries strengthened: the Canadian dollar, the Australian and New Zealand dollars, the Mexican peso, and the South African rand. The...
- 10Mar2021Weekly Top Gainers/Losers: Canadian dollar and New Zealand dollar
Оil quotes continued to rise over the past 7 days. Against this background, the currencies of oil-producing countries, such as the Russian ruble and the Canadian dollar, strengthened. The New Zealand dollar weakened after the announcement of negative economic indicators: ANZ Business Confidence and...
- 4Mar2021Weekly Top Gainers/Losers: American dollar and South African rand
Over the past 7 days, oil quotes continued to grow. Precious metals, including gold, fell in price. Against this background, the shares of oil companies increased, the Russian ruble strengthened, the Australian and New Zealand dollars, as well as the South African rand, weakened. The US dollar strengthened...