HomeForex UpdatesSpeculators minimize web lengthy bets on U.S. greenback -CFTC, Reuters By Reuters

Speculators minimize web lengthy bets on U.S. greenback -CFTC, Reuters By Reuters


FILE PHOTO: Lady holds U.S. greenback banknotes on this illustration taken Might 30, 2022. REUTERS/Dado Ruvic/Illustration

By Saqib Iqbal Ahmed

NEW YORK (Reuters) -Speculators’ web lengthy bets on the U.S. greenback fell to a five-week low, in line with calculations by Reuters and U.S. Commodity Futures Buying and selling Fee information launched on Friday.

The worth of the web lengthy greenback place was $14.71 billion for the week ended Might 31. Final week, speculators’ web lengthy place stood at $17.65 billion.

U.S. greenback positioning was derived from web contracts of Worldwide Financial Market speculators within the Japanese yen, euro, British pound, Swiss franc, and Canadian and Australian {dollars}.

The U.S. greenback has risen practically 7% towards a basket of currencies this yr, helped by a hawkish Federal Reserve and heightened geopolitical tensions which have boosted the buck’s safe-haven enchantment.

The buck’s rally, nevertheless, has misplaced steam in current weeks, as some traders fear that plenty of the excellent news for the foreign money is already mirrored within the worth.

“The greenback has been on an absolute tear for the primary 4 months of the yr … however nothing goes up in a straight line,” mentioned Minh Trang, senior foreign money dealer at Silicon Valley Financial institution in Santa Clara, California.

On Friday, U.S. greenback rose towards a basket of currencies, after a better-than-expected U.S. employment report pointed to a good labor market that might hold the Federal Reserve on an aggressive path of rate of interest hikes.

JAPANESE YEN (Contracts of 12,500,000 yen)

$9.174 billion

31 Might 2022 Prior week

week

Lengthy 15,201 16,567

Quick 109,640 116,011

Web -94,439 -99,444

EURO (Contracts of 125,000 euros)

$-7.013 billion

31 Might 2022 Prior week

week

Lengthy 236,553 237,072

Quick 184,281 198,142

Web 52,272 38,930

POUND STERLING (Contracts of 62,500 kilos sterling)

$5.836 billion

31 Might 2022 Prior week

week

Lengthy 30,788 25,936

Quick 104,893 106,308

Web -74,105 -80,372

SWISS FRANC (Contracts of 125,000 Swiss francs)

$2.666 billion

31 Might 2022 Prior week

week

Lengthy 2,641 1,355

Quick 23,099 21,028

Web -20,458 -19,673

CANADIAN DOLLAR (Contracts of 100,000 Canadian {dollars})

$0.554 billion

31 Might 2022 Prior week

week

Lengthy 30,520 28,999

Quick 37,527 41,686

Web -7,007 -12,687

AUSTRALIAN DOLLAR (Contracts of 100,000 {dollars})

$3.492 billion

31 Might 2022 Prior week

week

Lengthy 32,897 36,579

Quick 81,579 82,025

Web -48,682 -45,446

MEXICAN PESO (Contracts of 500,000 pesos)

$-0.902 billion

31 Might 2022 Prior week

week

Lengthy 114,480 83,031

Quick 79,031 53,239

Web 35,449 29,792

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand {dollars})

$1.219 billion

31 Might 2022 Prior week

week

Lengthy 9,179 10,749

Quick 27,903 30,070

Web -18,724 -19,321

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