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George Ma
May 25 12:00

Speculators are now betting on USD growth

Among the seven major currencies, speculators hold long positions on the US dollar and yen, which are the safe currencies. Hedge funds have long positions on the euro. At the same time, GBP position is still short.
For the first time since March, hedge funds and other large speculators have formed a balanced long position in the U.S. currency. This is evidenced by data from the Commodity Futures Trading Commission (CFTC).
The net long position on US dollar amounted to 6,694 contracts by the end of the week before May 19, compared with the short position of 10,368 contracts a week earlier. The total amount of short positions has been steadily declining since mid-April.
Speculators have reduced their bullish position on the euro from 78,140 to 72,562 contracts during the week.
The net short position on the Canadian dollar demonstrated growth for the fifth week in a row and reached 35,056 contracts. This is the most bearish value since June 2019.
The net short position on the Australian dollar rose from 35,425 to 39,558 contracts. This is the most bearish figure since March.
The net short position on the New Zealand dollar has decreased by 15,878 to 15,867. Obviously, it's a slight decline.
The net short position on the pound was 18,989 contracts. This is the bearish figure since December.
The long position on the yen decreased from 27,937 to 27,470 contracts.