The CFTC Report-US Dollar Further Builds Bullish Sentiment


11/8/2014
The latest report by Commodity Futures Trading Commission (CFTC) covering data up to the 5th of August showed that investors’ built further their positions in favor of the US dollar. The US dollar strengthened after the release of US GDP data. As we can see at the CFTC Sentiment table the bearish sentiment on the Euro further increased and is standing now at $-21.52 billion. That is one of the lowest net bearish positions since July 2012. Moreover, the Euro had the largest weekly negative change among the major currencies at $-3.40 billion. The Japanese Yen came second in negative weekly change. The net short on the Samurai currency rose by $2.67 billion.


Moreover, the Swiss franc also increased its net short position, with the bearish bias strengthening to $2.59 billion. The rest of the major currencies, the Canadian, the Australian and the British pound narrowed their net long position. The US dollar is broadly increasing its net bullish position in that week and that signifies that the greenback has upside potential. The US dollar index touched to 11-month high and its technical pattern also suggest bullish development.





Note

This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Call