forex Speculative Longs in USD Have Been Declining for 10 Straight Week

[Anzo Lim 0]

https://jump.wikifx.com/83348CF26389B46D

According to CFTC’s data, the decreasing trend of USD long positions continues as speculators cut their holdings by 1,616 lots. The long position has been falling for 10 straight weeks. Meanwhile, long positions in crude oil went up to the highest in 32 weeks.

 

As of the week ending on December 10^th, speculative net long positions for USDX noncommercial futures dropped 1,616 to 22,200 lots. Over the past 10 weeks, speculators lowered their bets on a bearish US dollar to a record-low level since July, 2018.

 

Large speculators still have difficulty grasping the trend of gold. Long positions in gold dropped 3 times in the the past 5 weeks, and has witnessed this week the largest decline in nearly eight weeks. Nonetheless, net long positions in gold futures have remained above 250,000 lots over the past 21 weeks.

Edited December 16, 2019 by Anzo Lim