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Anzo Lim

Analysis on CFTC’s Latest Commitment of Traders Report

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Latest statistics released last Friday by the Commodity Futures Trading Commission (CFTC) suggests that by October 22nd, net long positions for non-commercial futures contracts of US Dollar Index futures traded by speculators dropped by 6,226 contracts to 31,000 contracts, declining for the 3rd week in a row. On the other hand, USD has been in bearish territory for 76 weeks straight since May, 2018. Four other currencies have experienced substantial changes of over 10,000 contracts either long or short within the week.

 

The yen positions fell sharply for the second week, as net short rose by 11,000 and totaled 18,000 contracts. Previously the yen had been in bullish trend from the beginning of August to early October.

 

For other major currencies, more than 20,000 net long contracts were added in both euro and pound, while net short in euro and pound fell by 25,000 contracts and 20,000 contracts respectively, indicating a change of speculators attitude after UK and EU reached agreement on a new Brexit deal.

 

Source: WikiFX App

 

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