Market Sentiment

US dollar net long bets fell significantly to $22.60 billion from $31.05 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 18 and released on Friday June 21. The dollar weakening accelerated after weak inflation report showed the cost of living increase over the past 12 months slowed to 1.8% from 2% and retail sales growth was slower than expected.

US dollar bullish bets decline accelerated to $31.05 billion from $33.32 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 11 and released on Friday June 14. The dollar weakening accelerated after weak May jobs report supported hopes of Fed interest rate cuts soon following Federal Reserve chair Powell comment the previous week the central bank would ‘act as appropriate to sustain the expansion’.

US dollar net long bets slid further to $33.32 billion from $34.62 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 4 and released on Friday June 7. The dollar weakening accelerated after the Institute for Supply Management’s manufacturing PMI came in lower than expected for May and Federal Reserve chair Powell commented the central bank would ‘act as appropriate to sustain the expansion’.

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US dollar bullish bets edged down to $34.62 billion from $34.76 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 28 and released on Friday May 31. The dollar weakened marginally after a report orders for durable goods fell a below expected 2.1% in April and Markit reported its flash readings of US manufacturing and services indexes declined in May.

US dollar net long bets edged up to $34.76 billion from $33.58 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 21 and released on Friday May 24. The dollar strengthened considerably after a report University of Michigan report consumer sentiment rose to a 15-year high in May while Philadelphia Fed’s manufacturing index report was better than expected.

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US dollar bullish bets fell to $33.58 billion from $38.03 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 14 and released on Friday May 17. The dollar weakened marginally after a report consumer prices rose a below expected 0.3% on month in April while wholesale prices rose a below expected 0.2%, and trade deficit widened 1.4% in March .

US dollar net long bets declined to $38.03 billion from $38.87 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to May 7 and released on Friday May 10. The dollar weakened slightly as Federal Reserve held federal funds rate in a 2.25%-2.50% range while the Institute for Supply Management services index for April came in weaker than expected.

US dollar bullish bets continued to rise reaching $38.87 billion from $37.20 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to April 30 and released on Friday May 3. The dollar sentiment was steady as data showed a report the US economy grew at an above expected annual rate of 3.2% in the first quarter, while the Fed’s preferred inflation gauge – core personal consumption expenditure index, declined to annual rate of 1.6% in March.

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