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Speculators Extend Long Dollar-Bloc Positions

Saturday, February 18, 2017 18:04
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B4INREMOTE-aHR0cHM6Ly8xLmJwLmJsb2dzcG90LmNvbS8tU0NiMTRXOXBZalUvV0tkUE9rVkowNkkvQUFBQUFBQUFYTU0vMF8zWmszZFMxN0l3dmtEal85dWVZMXJUUjFocHJaaG9BQ0xjQi9zNDAwL3J1bm5pbmcuanBn / by Marc Chandler / Feb 19, 2017

It was another CFTC reporting week that saw little adjustment to the speculative positioning in the euro, yen, and sterling futures.  In fact, the average change in the gross speculative positions in these three major currencies was 2.7k contracts. Another sign that speculators tread water in the major currencies was that  the 3.6k contract reduction of the speculative gross short Swiss franc position was larger than the gross position changes in the other majors.

However, it was different among the dollar-bloc currency futures.  There speculators added to gross long positions.  The bulls added 7.0k contracts to lift the gross long Canadian dollar position to 53.2k contracts.  The bulls added 1.7k New Zealand dollar futures contracts.  The speculators’ gross long position now stands at 36.6k contracts.  The biggest change among the currency futures we track was the 12.8k-contract increase in the gross long Australian dollar futures to 79.3k contracts.

Of note, the bears in the dollar-bloc currency futures also saw opportunity.  The bears added less than one thousand contracts to the gross short New Zealand dollar position (to 33.3k) and 5.3k contracts to the gross short Australian dollar position (to 55.1k).  The Canadian dollar was the exception, as the bears covered 3.8k contracts, leaving them with 33.8k gross short futures contracts.


The post Speculators Extend Long Dollar-Bloc Positions appeared first on Silver For The People.


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