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Market Sentiment


US dollar bearish bets continued rising, reaching $7.42 billion from $5.54 billion against the major currencies during the previous week , according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 12 released on Friday June 15. The dollar weakened on tepid inflation which remained at 0.2% over month in May.

1. Hertz Global Holdings – stock prices of the US car rental company are rising before the start of the hurricane season in the US. In 2018, the first American storm Alberto already damaged the infrastructure in Northern California and Maryland and even caused several deaths, which were results of accidents. As a rule, during the hurricane season in the US, the demand for renting cars increases significantly.

US dollar net short bets edged up to $5.54 billion from $5.44 billion against the major currencies during the previous week , according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 5 released on Friday June 8. The dollar weakened on tepid wage growth to 2.7% in May over the year from 2.6% in April while the US economy created 223,000 new jobs in May, above an expected 190,000.

US dollar net short bets fell markedly to $5.44 billion from $7.95 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 29 released on Friday June 1. The dollar strengthening accelerated as Fed minutes showed support for June rate hike though policy makers favored a gradual pace of interest rate increases.

US dollar bearish bets fell to $7.95 billion from $9.80 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 22 released on Friday May 25. The dollar strengthening continued as industrial production rose at steady rate of 0.7% in April while Treasury yields continued rising .

1. Tullow Oil – – stock prices of the company rose together with world oil prices. The investment bank Morgan Stanley raised forecasts of Tullow Oil’s financial performance. On Wednesday, its stock prices fell. The new president of Peru has canceled several oil production contracts of this company on the Peruvian shelf.

US dollar net short bets declined to $9.80 billion from $10.84 billion against the major currencies during the previous week , according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 15 released on Friday May 18. The dollar strengthening slowed as the consumer price index rose 0.2% on month in April when 0.3% increase was expected.

US dollar bearish bets fell considerably to $10.84 billion from $15.14 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 8 released on Friday May 11. The dollar strengthening continued as the Fed left monetary policy unchanged while acknowledging firming inflation as the personal consumption expenditure index, the Federal Reserve’s preferred inflation gauge, rose to 2% over year in March from a 1.7% in February.

US dollar net short bets fell further to $15.14 billion from $19.77 billion against the major currencies during the previous week , according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 1 released on Friday May 4. The dollar strengthening continued as US GDP slowed in the first quarter less than expected: Q1 GDP grew 2.3% after 2.9% expansion in the last three months of 2017.

US dollar net short bets fell to $19.77 billion from $23.43 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to April 24 released on Friday April 27. The dollar strengthening started as Treasury bond yields started to rise on rising inflation expectations and corporate results mostly beat expectations.