CFTC Commitments of Traders – Traders Resumed Bets on Higher USD as Rate Cut Priced In
As suggested in the CFTC Commitments of Traders report in the week ended July 9, NET LENGTH in USD Index jumped +4 639 contracts to 27 056. Speculative long positions gained +2 982 contracts while short positions fell -1 657 contracts during the week. Traders raised long bets but...
CFTC Commitments of Traders – Bulls Outweighs Bears in Canadian Dollar’s Outlook
For that first time since March 2018, CAD futures recorded NET LENGTH of 6 293 contracts, as suggested in the CFTC Commitments of Traders report in the week ended July 2. Recent bullish sentiment about the loonie has been driven by policy divergence. While the Fed is widely expected...
CFTC Commitments of Traders -NET LENGTH for USD Fell on Heightened Hopes of Fed Funds Rate Cut
The CFTC Commitments of Traders report in the week ended June 25 shows that NET LENGTH in USD Index declined -6 183 contracts to 22 366. Speculative long positions fell -5 992 contracts while short positions added +191 contracts during the week. DXY index plunged to the lowest level...
Hong Kong as Bargaining Chip in US-China Trade Talk?
Five years since the Umbrella Movement, Hong Kong has once again been in global spotlight. Just a week after a march by over a million protesters, about two million of Hongkongers took to the streets against the proposal of extradition bill amendment. The issue has caught so much international...
HKD’s HIBOR Soars, But With Limited Upside
Recent spike in HIBOR has sent HIBOR-LIBOR spread to the positive territory, a situation not seen in a decade for both 1-month and 3-month spreads. In our opinion, the upside for HIBOR is limited although it could stay elevated in the near-term due to seasonal factors.
On June 13, both...
CFTC Commitments of Traders – Rising Bets for Higher USD Likely Short-lived
The CFTC Commitments of Traders report in the week ended June 18 shows that NET LENGTH in USD Index gained +4 560 contracts to 28 549. Speculative long positions added +3 434 contracts while short positions decreased -1 126 contracts during the week. We expect NET LENGTH to decline...
CFTC Commitments of Traders – Bets on USD Futures Trimmed Further Ahead of FOMC Meeting
The CFTC Commitments of Traders report in the week ended June 11 suggests that bets for US dollar continued to fall on both long and short sides. NET LENGTH in USD Index dropped -2 245 contracts to 23 989. Both speculative long and short positions decreased during the week....
CFTC Commitments of Traders – USD to Weaken Further as Rate Cut Hopes Loom
The CFTC Commitments of Traders report in the week ended June 4 shows bets for US dollar dropped on bog long and short sides. NET LENGTH in USD Index dropped -864 contracts to 26 234. Both speculative long and short positions decreased during the week. Traders continued to trim...
CFTC Commitments of Traders – Bets of USD Diminished Amidst Uncertainty about Fed’s Policy Outlook
The CFTC Commitments of Traders report in the week ended May 28 shows that NET LENGTH in USD Index climbed higher, by +386 contracts, to 27 098. Both speculative long and short positions increased during the week. Traders continued to trim their bets on USD. Recent focus has returned...
How Does Brexit Proceed? After Results of European Parliament Election Showing Divided Britons
The Brexit Party led by Nigel Farage emerges as the biggest party in the European Parliament, with 29 seats and 31.6% (up +31.6% from previously) of the votes across the 12 regions in the UK. Surge in votes was also seen in Liberal Democrats, a pro-EU party, and Greens,...
CFTC Commitments of Traders -Bets for Lower GBP Jumped on Renewed Political and Brexit Uncertainty
The CFTC Commitments of Traders report in the week ended May 21 shows that NET LENGTH in USD Index edged slightly higher, by +35 contracts, to 26 712. Both speculative long and short positions increased during the week. All other major currencies stayed in NET SHORT positions.
Concerning European...
Brexit Update – PM May’s Last Attempt to Win a Deal Likely in Vain
Possibly in her final attempt, UK Prime Minister Theresa May tries to win the parliamentary approval of the Brexit Withdrawal Agreement with a “bold new plan”. While the most eye-catching ingredient is a green light of a second referendum, the remainder of the plan was made by cobbling together...
OPEC+ Maintains Output Cut. Market Balance Suggests No Practical Need to Raise Output
OPEC+ stayed put, maintaining the output cut agreed in December last year while pledging to monitor market developments with an option to raise production later. In our opinion, there is no practical need for OPEC+ to officially raise output. Despite US sanctions against Venezuela and Iran, as well as...
CFTC Commitments of Traders – USD Bets Trimmed Further as Trader War Uncertainty Persists
As suggested in the CFTC Commitments of Traders report in the week ended May 14, traders trimmed their bets, on both long and short sides, on futures of US dollar index, euro, Swiss franc, and Canadian dollar. On the other hand, bets on both sides were increased in the...
US-China Trade War Intensifies as China Retaliates
Financial markets are in turbulence as China announced to raise tariff of US$60B of US exports to 25% from 10%, effective June 1. This was followed by US’ threat to levy tariff on the remaining Chinese exports (worth of about US$ 300B) in as soon as summer. While China's...
CFTC Commitments of Traders – Traders Trimmed Bets (on Both Longs and Shorts) in Major Currencies as Trump Escalated Trade War with China
As suggested in the CFTC Commitments of Traders report in the week ended May 7, NET LENGTH in USD Index decreased -716 contracts to 28 233. Both speculative long and short positions fell during the week. All other major currencies stayed in NET SHORT positions.
Concerning European currencies, NET...
CFTC Commitments of Traders – Traders Increased Short Bets on World Currencies (Except For USD)
As suggested in the CFTC Commitments of Traders report in the week ended April 30, NET LENGTH in USD Index increased +194 contracts to 28 949. Both speculative long and short positions gained during the week. All other major currencies stayed in NET SHORT positions.
Concerning European currencies, NET SHORT...
CFTC Commitments of Traders – Traders Turned Risk- off in Both Euro and British Pound
As suggested in the CFTC Commitments of Traders report in the week ended April 23, NET LENGTH in USD Index decreased -183 contracts to 28 755. Both speculative long and short positions gained during the week. Yet, the latter slightly pervailed. All other major currencies stayed in NET SHORT...
CFTC Commitments of Traders – Net Short Increased in Safe- Haven Currencies as Risk Appetite Improved
As suggested in the CFTC Commitments of Traders report in the week ended April 16, NET LENGTH in USD Index decreased -508 contracts to 28 938. Both speculative long and short positions dropped during the week. All other major currencies stayed in NET SHORT positions.
Concerning European currencies, NET...
CFTC Commitments of Traders – Traders Trimmed Bets on USD, EUR, GBP and NZD
As suggested in the CFTC Commitments of Traders report in the week ended April 9, NET LENGTH in USD Index increased +598 contracts to 29 446. Both speculative long and short positions dropped as the market awaited the FOMC minutes. All other major currencies stayed in NET SHORT positions....