U.S. dollar net longs hit highest since Dec. 2016 -CFTC data By Reuters


© Reuters. U.S. dollar net longs hit highest since Dec. 2016 -CFTC data

By Gertrude Chavez-Dreyfuss

NEW YORK, Oct 5 (Reuters) – Speculators’ net long bets on the U.S. dollar rose to their largest since mid-December 2016, according to calculations by Reuters and the Commodity Futures Trading Commission released on Friday.

The value of the net long dollar position was $26.68 billion in the week ended Oct. 2, from $23.17 billion the previous week.

U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars.

In a wider measure of dollar positioning 0#NETUSDFX= that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the U.S. dollar posted a net long position of $27.427 billion in the week ended Oct. 2, up from $24.796 billion a week earlier.

The dollar has been on a tear since the last week of September as the Federal Reserve flagged multiple interest rate hikes this year and in 2019. Over the last seven days, the has gained 2.1 percent.

On Friday, the dollar retreated slightly, but no one doubts that its trajectory is on the way up.

“The relative strength of the U.S. economy and the Federal Reserve’s resolve to tighten monetary policy is unquestionable,” said Kathy Lien, managing director of FX strategy, at BK Asset Management in New York.

She added that the dollar on any dip, is very much a buy.

In the cryptocurrency market, speculators’ net short position on bitcoin Cboe futures rose to 1,297 contracts 0#1CFTC1330E1 in the latest week, from 1,173 the previous week, data showed.

on Friday slipped 0.1 percent to $6,539.30 on the Bitstamp platform.

Japanese Yen (Contracts of 12,500,000 yen) $12.542 billion

02 Oct 2018

Prior week

week

Long

56,074

47,253 Short

170,120

131,972 Net

-114,046

-84,719 EURO (Contracts of 125,000 euros) $1.025 billion

02 Oct 2018

Prior week

week

Long

164,738

172,426 Short

171,839

168,730 Net

-7,101

3,696 POUND STERLING (Contracts of 62,500 pounds sterling) $4.813 billion

02 Oct 2018

Prior week

week

Long

30,786

34,768 Short

90,126

101,846 Net

-59,340

-67,078 SWISS FRANC (Contracts of 125,000 Swiss francs) $1.703 billion

02 Oct 2018

Prior week

week

Long

11,848

10,394 Short

25,250

26,477 Net

-13,402

-16,083 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) $1.442 billion

02 Oct 2018

Prior week

week

Long

41,940

31,812 Short

60,424

51,344 Net

-18,484

-19,532 AUSTRALIAN DOLLAR (Contracts of 100,000 dollars) $5.154 billion

02 Oct 2018

Prior week

week

Long

20,470

21,888 Short

92,188

93,949 Net

-71,718

-72,061 MEXICAN PESO (Contracts of 500,000 pesos) $-1.964 billion

02 Oct 2018

Prior week

week

Long

135,649

117,315 Short

61,820

65,917 Net

73,829

51,398 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) $2.017 billion

02 Oct 2018

Prior week

week

Long

10,678

10,906 Short

41,274

42,741 Net

-30,596

-31,835



Source link



Leave a Reply

error: Content is protected !!