USD rose against major currencies with the exception of JPY and GBP. As suggested in the CFTC Commitments of Traders report in the week ended October 9, NET LENGTH of USD index climbed slightly, by +673 contracts, to 37 709 contracts. Both speculative long and short positions increased during the week.
Bulls of European currencies shied away, deepening NET SHORTS in both EUR and GBP. For the former, speculative long positions dropped -2 423 contracts while shorts rose +6 618 contracts, sending NET SHORT to 16 142 for the week. NET SHORT for GBP futures increased -1 167 contracts to 60 507, thanks for the -600 units drop in speculative long contracts and the 567 units increase in shorts. This was despite the rebound in GBP during the week. GBP would be closely monitored this week as the officials head for the EU summit for Brexit negotiation on October 18.
On safe-haven currencies, Net SHORT for CHF futures dropped -599 contracts to 12 803 while that for JPY futures deepened, by 115 201 contracts, to 115 201 during the week. Both speculative long and short positions fell last week, yet the former overwhelmed.
All commodity currencies stayed in NET SHORT positions. NET SHORT for AUD futures rose +1 566 contracts to 73 284, while that for NZD futures gained +3 224 contracts to 33 820. NET SHORT for CAD futures fell -6 339 contracts to 12 145.
