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CFTC report from June 7 covered information available on June 4
According to the latest Commodity Futures Trading Commission (CFTC) report, up to the first week of June, significant changes were observed in the speculative positioning on the Australian dollar (increase in net short positions by 1.6 billion USD), Japanese yen (showed reduction in the net short position by 1.9 billion USD), but the most significant change in the net position was recorded on the European currency (reducing net short position of 5.2 billion USD). Despite this, the US dollar continues to hold a net long position vs. six major currencies. At the same time currency rating by the largest net short position is as follows:
- Japanese Yen is leading wilth the net short position -10.4 billion USD
- The euro is the second with a net short position -8.4 billion USD
- The British pound in third with a net short position -7.4 billion USD
- The Australian dollar is the next with the net short position of -5.6 billion USD
- The Canadian Dollar in fifth with a net short position of -3.8 billion USD
- The Swiss Franc closes rating with a net short position of -3.4 billion USD
The net short position in the Canadian dollar increased by USD 0.6 billion to -3.8 billion USD. Changes in the positioning are mostly associated with the liquidation in long positions, to a lesser extent - with the increasing number of new short positions. The sentiment remains bearish.
Significant reduction in the amount of net short positions in the European currency at the end of last week cast doubt on the fact that the euro will remain in our ranking being the second for a long time. Net short position declined by 5.2 billion USD to -8.4 billion USD due to a significant liquidation of short positions, while the number of long positions was also increased..
The net position on the British pound rose by 0.4 billion USD up to -7.4 billion USD. Bearish sentiment is dominating.
The net short position on the Swiss franc fell by 0.3 billion USD, reaching -3.4 billion USD. The market sentiment is bearish.
Yen regains the leadership by the largest net short position against the US dollar, despite its decline last week by 1.9 billion USD to -10.3 billion USD. In principle, we are used to seeing the consolidation in positioning around -10 billion. The sentiment remains bearish.
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