US dollar bearish bets fell ahead of US presidential election with total net shorts declining to $23.39 billion from $25.90 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to November 3 and released on Friday November 6. The decrease in net short dollar bets was the result of mainly decline in bullish bets in euro and Australian dollar net long bets turning into net shorts. Dollar bearish bets declined as the US Institute for Supply Management’s manufacturing activity index climbed to a 13-month high of 59.3 in October from 55.4 in September, and Markit’s final US manufacturing index ticked up to 53.4 in October versus an initial reading of 53.3.
CFTC Sentiment vs Exchange Rate
| November 03 2020 | Bias | Ex RateTrend | Position $ mln | Weekly Change |
| CAD | bearish | positive | -1575 | -206 |
| AUD | bearish | positive | -94 | -727 |
| EUR | bullish | positive | 20574 | -2330 |
| GBP | bearish | positive | -917 | -375 |
| CHF | bullish | negative | 2041 | -90 |
| JPY | bullish | negative | 3358 | 1218 |
| Total | 23387 |