U.S. dollar net longs climb to highest since early March 2020 -CFTC, Reuters

0
102

Article content

NEW YORK — U.S. dollar net longs rose in

the latest week to their highest level since early March last

year, according to Reuters calculations and Commodity Futures

Trading Commission data released on Friday.

The value of the net long dollar position advanced to $2.99

billion in the week ended July 27, from net longs of $399.69

million the previous week. U.S. dollar positioning flipped to

net longs last week after being net short for 16 months.

U.S. dollar positioning was derived from net contracts of

Advertisement

Article content

International Monetary Market speculators in the Japanese yen,

euro, British pound and Swiss franc, as well as the Canadian and

Australian dollars.

In a broader measure of dollar positioning that

includes net contracts on the New Zealand dollar, Mexican peso,

Brazilian real and Russian ruble, the greenback posted a net

long position of $2.88 billion this week, compared with net

longs of $222 million the week before.

The dollar has gained ground the last few weeks on

safe-haven bids on concerns about the fast-spreading Delta

coronavirus variant and worries about China’s economy, said

Jonas Goltermann, senior markets economist, at Capital

Economics.

Both factors remain “wildcards that may keep the dollar

Advertisement

Article content

strong near term.”

For the month of July, however, the dollar index posted a

minor 0.2% decline after rising 2.8% in June.

The rise in dollar longs came as longs on the euro and

Canadian dollar declined, data showed.

In the cryptocurrency market, bitcoin net shorts rose to

1,572 contracts in the week ended July 27, from net shorts of

1,192 the previous week.

Bitcoin’s bullish momentum has lost steam the last few

months amid a wave of global regulatory crackdown on the crypto

sector. After hitting $40,000 this week, bitcoin was unable to

surge higher. It was last up 0.3% at $40,124.

Since hitting an all-time high of just under $65,000 in

mid-April, bitcoin has fallen about 38%.

Japanese Yen (Contracts of 12,500,000 yen)

Advertisement

Article content

$6.826 billion

27 Jul 2021 Prior week

week

Long 32,975 35,474

Short 92,909 91,205

Net -59,934 -55,731

EURO (Contracts of 125,000 euros)

$-5.63 billion

27 Jul 2021 Prior week

week

Long 202,245 208,669

Short 164,119 162,847

Net 38,126 45,822

POUND STERLING (Contracts of 62,500 pounds sterling)

$0.493 billion

27 Jul 2021 Prior week

week

Long 41,194 44,223

Short 46,878 47,720

Net -5,684 -3,497

SWISS FRANC (Contracts of 125,000 Swiss francs)

$-1.161 billion

27 Jul 2021 Prior week

week

Long 18,262 18,061

Short 9,773 10,019

Net 8,489 8,042

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

$-0.427 billion

27 Jul 2021 Prior week

week

Long 47,048 59,883

Short 41,674 46,968

Net 5,374 12,915

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

$2.896 billion

27 Jul 2021 Prior week

week

Long 57,415 57,072

Short 96,762 92,762

Net -39,347 -35,690

MEXICAN PESO (Contracts of 500,000 pesos)

$0.661 billion

27 Jul 2021 Prior week

week

Long 65,404 66,141

Short 91,811 94,562

Net -26,407 -28,421

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

$-0.099 billion

27 Jul 2021 Prior week

week

Long 19,505 20,671

Short 18,084 17,625

Net 1,421 3,046

(Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft

and David Gregorio)

Advertisement

In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.

    Comments

    Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.