Market Sentiment


US dollar bearish bets fell to $8.18 billion from $12.96 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to February 13 released on Friday February 16. The dollar sentiment improved after signs of inflation uptick such as the rise in January wages raised expectations the Federal Reserve may increase the pace of interest rate hikes.

US dollar short bets declined to $12.96 billion from $13.74 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to February 6 released on Friday February 9. The dollar sentiment improved as nonfarm payrolls increased by 200 thousand and average hourly earnings rose 2.9% year over year in January.

US dollar bearish bets still rose to $13.74 billion from $11.05 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to January 30 released on Friday February 2. Nevertheless the better than expected January jobs report may reverse the downward trend of the US dollar index.

US dollar short bets continued to grow to $11 billion from $9.29 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to January 23 released on Friday January 26. However, the latest statements by the US President Donald Trump, that he does not support the weakening of the dollar, may contribute to the upward correction of the dollar index.

US dollar short bets climbed sharply to $8.87 billion from $4.61 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to January 9 released on Friday January 12. Dovish minutes of Federal Reserve meeting and weaker than expected December jobs report further intensified bearish dollar sentiment.

US dollar bearish bets jumped to $4.61 billion from $2.71 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to January 2 released on Friday January 5. Positive data like rising Markit’s manufacturing purchasing manages’ index and Chicago Fed’s manufacturing purchasing managers’ index in December didn’t result in dollar sentiment change.

US dollar short bets rose to $2.71 billion from $2.19 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 26 released on Friday December 29. The dollar sentiment deteriorated despite President Donald Trump signed the Republican tax overhaul into law.

US dollar bearish bets fell sharply to $2.19 billion from $7.80 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 19 released on Friday December 22. The 0.25 percentage point increase in interest rates by the Federal Reserve as the central bank signaled plans to raise rates three more times in 2018 and the passing of the Republicans’ tax bill by House of Representatives were the main catalysts for dollar bullish views.

US dollar short bets jumped to $7.80 billion from $4.28 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 12 released on Friday December 15. Dollar sentiment deteriorated as average hourly earnings rose a less than expected 0.2% on month in November while 228 thousand new jobs were created, more than a 195 thousand expected addition.