<p>As suggested in the CFTC Commitments of Traders report in the week ended January 21. NET LENGTH in USD Index slipped -323 contracts to 12 940. Speculative long positions were down -256 contracts and short positions added +67 contracts. Concerning European currencies, NET SHORT for EUR futures dropped -1 163 contracts to 47 019. NET [&helli
CFTC Commitments of Traders – Safe-Haven Currencies Shined as Novel Coronavirus Exported from China sparks Global Worries
<p>Safe-haven currencies shined as novel coronavirus exported from China sparks global worries. As suggested in the CFTC Commitments of Traders report in the week ended January 28. NET LENGTH in USD Index added +3 493 contracts to 16 433. Speculative long positions were gained +2 982 contracts and short positions dropped -511 contracts. Conce
CFTC Commitments of Traders – Uncertainty of Novel Coronavirus Continued to Support Safe Haven Currencies
<p>Novel coronavirus has shown no signs of abating. The latest statistics indicate that the number of confirmed cases has increased to above 30 000 and casualty to over 800 in China. The epidemic has affected at least 28 countries in the world. Against this backdrop, safe-haven currencies outperformed risky ones. As suggested in the CFTC [&he
CFTC Commitments of Traders – Weak Economic Developments in Eurozone Drove Euro Lower
<p>Weakness in Eurozone’s economic data has led traders to trim bets on higher euro but raise short bets for further decline. As suggested in the CFTC Commitments of Traders report in the week ended February 11, NET LENGTH in USD Index gained +2 353 contracts to 19 486. Speculative long positions soared +11 750 contracts […]
Haunted by Domestic Weakness and Coronavirus Uncertainty, Euro’s Weakness is Set to Continue
<p>Currently trading at 1.083 against USD, lowest since April 2017, the single currency has plunged -2.4% in the first half of February. This follows a -1% decline in January. Disappointing economic data, renewed speculations on further rate cut by ECB and intensified global uncertainty as driven by coronavirus outbreak originated in China ar
CFTC Commitments of Traders – Traders Continued to Bet Lower EUR on Disappointing Economic Data
<p>As suggested in the CFTC Commitments of Traders report in the week ended February 18, NET LENGTH in USD Index gained +4 742 contracts to 24 228. Speculative long positions dropped -1 314 contracts and short positions dropped -6 056 contracts. Concerning European currencies, NET SHORT for EUR futures increased +5 838 contracts to 91 [&helli
CFTC Commitments of Traders – British Pound Futures Positions Returned to NET LENGTH for First Time since April
<p>As suggested in the CFTC Commitments of Traders report in the week ended December 24. NET LENGTH in USD Index gained +1 535 contracts to 13 231. Speculative long positions added +990 contracts and short positions dropped -545 contracts. Concerning European currencies, NET SHORT for EUR futures rose +7 249 contracts to 72 943. GBP […
USDJPY to Firm in 1H20, Could Weaken as Uncertainties Resurface Later in the Year
<p>US-China trade war, Brexit drama and concerns over global economic slowdown have resulted in a volatile FX market for most of 2019. Risk aversion raised demand for safe-haven assets, such as Japanese yen. USDJPY declined to as low as 105 in mid-August, recording a loss of about 4% in the first 8 months of the […]
CFTC Commitments of Traders – Crude Oil Prices Slumped as OPEC+ Failed to Agree on Further Output Cut
<p>According to the CFTC Commitments of Traders report for the week ended March 3, NET LENGTH for crude oil futures plunged -43 097 contracts to 388 369 for the week. Speculative long positions added +5 106 contracts while shorts jumped -48 203 contracts. NET LENGTH for crude oil futures will decline further in the coming […]
Saudi’s Oil War to Lead to Oversupply in 2Q20, Driving Away High-Cost Producers
<p>Oil market roiled by the surprising collapse of OPEC+ talk. For the time since late 2016, OPEC members and a number of non-OPEC oil producers failed to agree on a deal to limit output, as Russia refused to commit. In response, Saudi Arabia, the largest producer in OPEC and the second in the world, launched […]