January 29, 2016 / 9:47 PM / 2 years ago

UPDATE 1-Speculators pare U.S dollar net longs to lowest in 3 months -CFTC, Reuters

(Adds table, details on euro, yen contracts)
    NEW YORK, Jan 29 (Reuters) - Speculators cut bullish bets on
the U.S. dollar for a fifth straight week, as net longs fell to
their lowest since late October, according to Reuters
calculations and data from the Commodity Futures Trading
Commission released on Friday.
    The value of the dollar's net long position fell to $23.85
billion in the week ended Tuesday, Jan. 26, from $25.03 billion
in the previous week. This was the fourth straight week that net
dollar longs came in below $30 billion.
    This week, Japanese yen net longs totaled 50,026 contracts
from 37,653 previously. This week's net longs in the yen were
the largest since mid-February 2012.
    Speculators also reduced net shorts on the euro to the
lowest since early November. This week net euro short contracts
totaled 127,215 contracts, from 137,015 the previous week.
    These days, the safe haven yen and low-yielding euro tend to
struggle in times of increased risk appetite because these
currencies are often used to fund investment in risky assets.
Conversely, they rise when there is a retreat from those assets
in periods of market stress similar to what the market has seen
in the last month with the decline in oil prices and the
volatility in the Chinese stock market.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, sterling, Swiss franc and
Canadian and Australian dollars.
    
Japanese Yen (Contracts of 12,500,000 yen) 
         26 Jan 2016            Prior week
         week             
 Long             92,628            84,485
 Short            42,602            46,832
 Net              50,026            37,653
 
EURO (Contracts of 125,000 euros)
         26 Jan 2016            Prior week
         week             
 Long             71,446            69,449
 Short           198,661           206,464
 Net            -127,215          -137,015
 
POUND STERLING (Contracts of 62,500 pounds sterling)
         26 Jan 2016           Prior week
         week             
 Long             34,696           37,863
 Short            82,233           76,442
 Net             -47,537          -38,579
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
         26 Jan 2016           Prior week
         week             
 Long             24,932           25,191
 Short            29,435           24,285
 Net              -4,503              906
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         26 Jan 2016           Prior week
         week             
 Long             32,767           33,064
 Short            99,586           99,450
 Net             -66,819          -66,386
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         26 Jan 2016           Prior week
         week             
 Long             46,281           45,471
 Short            79,079           81,738
 Net             -32,798          -36,267
 
MEXICAN PESO (Contracts of 500,000 pesos)
         26 Jan 2016           Prior week
         week             
 Long             28,487           30,361
 Short           105,094          106,364
 Net             -76,607          -76,003
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
         26 Jan 2016           Prior week
         week             
 Long             15,166           14,938
 Short            20,566           17,892
 Net              -5,400           -2,954
 
 (Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft)
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