US Dollar Outlook Less Bullish, CHF Shorts Cut, CAD Longs Boosted - COT Report
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Source: CFTC, DailyFX (Covers up to June 11th, released June 14th)
US Dollar Outlook Less Bullish, CHF Shorts Cut - COT Update
Speculative positioning in the USD had been cut by above $2.5bln vs G10 currencies to $32.1bln. However, with that said, weekly changes in the majors (EUR, GBP & JPY) had been relatively muted. The increase in risk averse sentiment saw a short squeeze in CHF with net short bets being cut by over $1.4bln, as such, short positions now outnumber longs by 6.5:1 (Prev. 8.9:1)
Elsewhere, across commodity currencies, bearish sentiment in the Canadian Dollar eased as speculators took comfort from the recent improvement in Canadian data. Consequently, gross longs had been added, resulting in a $646mln reduction in net shorts. Little change seen both the Aussie or Kiwi.
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--- Written by Justin McQueen, Market Analyst
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