Speculators Continued to Reduce US Dollar Exposure at What may be the Bottom

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

marctomarket.com / by Marc Chandler / Apr 24, 2016

Speculators in the futures market continued to press a bearish view of the US dollar the CFTC reporting week ending April 19.According to the Commitment of Traders report, speculators added to their gross long currency futures position in seven of the eight currencies we track. The exception was the British pound, where speculators liquidated a minor 1.1k contracts, leaving them with 32.8k gross long sterling future contracts.

That said, most gross currency adjustments were small, but again except sterling, the direction of change in the net positions was consistent–either longer foreign currencies or less short them.  There were only two gross position adjustments we regard as significant, which is change of 10k or more contracts.

The bulls added 12k euro contracts to their gross long position, lifting it to 101.2k contracts. The bears sold into the euro gains and increased their gross short position by 6.9k contracts.  The gross short euro position peaked last December at 262k contracts.  It stood at 148.1k contracts at the end of the latest reporting period.

READ MORE

The post Speculators Continued to Reduce US Dollar Exposure at What may be the Bottom appeared first on Silver For The People.

Thanks to BrotherJohnF