CFTC positions: 0116 Speculators reduced their net long positions in gold and net short positions in the U.S. dollar this week, holding a record net short position in the 10-year U.S. Treasury bond
Data from the U.S. Commodity Futures Trading Commission (CFTC) shows that in the week of January 16, the net long position of COMEX gold speculators decreased by 5,653 lots to 100,634 lots; the net long position of ICE Brent crude oil held by speculators increased by 18,125 lots. to 226873 positions. Speculators have reduced their bearish dollar bets in the past week, with their net short position in 10-year U.S. Treasury futures increasing to the largest ever.
As of the week of January 16, the net long position of NMYEX WTI crude oil held by speculators decreased by 20,969 positions to 90,160 positions.
Intercontinental Exchange (ICE) data shows that in the week ended January 16, speculators’ net long positions in ICE Brent crude oil increased by 18,125 positions to 226,873 positions. Speculative net long positions in gasoline futures increased by 2,111 positions to 10,273 positions.
In the week of January 16, COMEX gold speculators reduced their net long positions by 5,653 lots to 100,634 lots; COMEX silver speculators reduced their net long positions by 1,856 lots to 6,030 lots; COMEX copper speculators’ net short positions increased by 8,555 lots Positions, to 25309 lots.
Speculators reduce bearish dollar bets in latest week
Speculators’ net short position on the dollar fell in the latest week, data from the U.S. Commodity Futures Trading Commission and the London Stock Exchange showed on Friday, reflecting a recovery in the greenback as interest rate markets trimmed expectations of easing by the Federal Reserve in March.
Data show that in the week ended January 16, the value of the U.S. dollar’s net short position fell to $9.799 billion from $12.7 billion the previous week. Net short positions on the U.S. dollar hit their largest level since August last week.
U.S. dollar positions originate from international currency market speculators’ net positions in Japanese yen, euro, pound sterling, Swiss franc, Canadian, Australian and New Zealand dollars, Mexican peso, Brazilian real and Russian ruble.
Further data also showed that real money or institutional investors also significantly reduced their short US dollar positions, while leveraged accounts or hedge funds cut their net long US dollar positions.
The dollar rose for a second straight week on Friday. A series of generally solid U.S. economic data and recent comments from Federal Reserve officials have dented expectations for a rate cut at the March policy meeting.
For example, the initial value of the overall consumer confidence index for this month released by the University of Michigan on Friday reached 78.8, the highest value since July 2021, while it was 69.7 in December, and the market consensus was 70.0.
The data comes after good labor market and retail sales data released earlier in the week, suggesting the economy remains stable.
Starting on Tuesday, several Fed officials, including President Christopher Waller, tempered expectations that the central bank would cut interest rates earlier this year.
As a result, U.S. interest rate futures markets on Friday are pricing in a less than 50% chance of a rate cut at the March meeting, down from 80% last week, according to LSEG’s Rate Probability app. Futures traders are betting on five rate cuts of 25 basis points each in 2024, compared with six expected last week.
CFTC data also showed that much of the shift in dollar speculative sentiment was reflected in a sharp decline in net euro long positions to 104,092 positions. Institutional investors overall raised their net long euro positions.
Speculators’ net short position in 10-year U.S. Treasury futures rises to largest ever
Data released by the U.S. Commodity Futures Trading Commission (CFTC) on Friday showed that in the latest week, speculators increased their net bearish position in U.S. 10-year Treasury futures to the largest amount on record.
In the latest week, the net short position in U.S. 10-year Treasury futures was 889,385 lots, compared with 787,020 lots a week ago.
CFTC data also showed investors reduced short positions in two-year Treasury futures, with net short positions falling to the lowest level since August.
In the week of January 16, CFTC speculators reduced their net short position in U.S. Treasury bond futures by 28,000 lots to 127,752 lots; CFTC speculators increased their net short position in U.S. Treasury bond futures by 9,423 lots to 322,618 lots; CFTC speculators increased their net short position in U.S. Treasury bond futures by 9,423 lots to 322,618 lots; The net short position in U.S. 2-year Treasury futures decreased by 36,150 lots to 1,202,507 lots; CFTC speculators increased the net short position in U.S. 10-year Treasury futures by 102,365 lots to 889,385 lots; CFTC speculators increased the net short position in U.S. 5-year Treasury futures by 102,365 lots The short position increased by 26,655 lots to 1,196,837 lots.
2024-01-20 04:28:00
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