The CFTC Report-Euro Bearish Sentiment Moderates | IFCM UK
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The CFTC Report-Euro Bearish Sentiment Moderates

18/8/2014
The latest report by Commodity Futures Trading Commission (CFTC) covering data up to the 12th of August showed that investors eased their bullish sentiment towards the US dollar. The US dollar according to the CFTC Sentiment table weakened against the Euro, the British pound, the Swiss franc and the Japanese Yen. Moreover, we can see at the CFTC Sentiment table that the net short position on the Euro despite that it moderated on weekly basis by $0.46 billion, it remains the highest among major currencies at $-21.05 billion. That is, at the low extreme of Euro net bearish position since July 2012. Moreover, stabilization of the net short at this extreme level may indicate that we are at a critical point, where the market sentiment on Euro may reverse. The Japanese Yen even though has the second largest net short position the weekly change has been the largest positive that is displayed at the Weekly Change bar chart. The net short position of the Samurai currency moderated by $1.70 billion and stands now at $9.91 billion.


Elsewhere, the Australian decreased its net long position to $2.73 billion as the geopolitical risk was rising and investors were seeking for safer currencies. The latter, increased demand for the Japanese Yen which we discussed earlier also increased the demand for the Swiss franc which saw its net short position falling by $0.20 billion. Lastly, the British pound widened its net long position, recovering its bullish sentiment after more than a month of net long position declines. That suggests we might see a reversal of the falling bias in the British pound trading.


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