July 12, 2019 / 8:12 PM / 5 days ago

UPDATE 1-Speculators raise net long U.S. dollar bets in latest week -CFTC, Reuters

 (Adds details, table)
    NEW YORK, July 12 (Reuters) - Speculators' net long dollar
position rose for the first time in seven weeks, according to
calculations by Reuters and U.S. Commodity Futures Trading
Commission data released on Friday.
    The value of the net long dollar position was $15.48 billion
in the week ended July 9, compared with $14.66 billion in the
previous week. The U.S. speculative community has been net long
dollars since mid-July last year.
    U.S. dollar positioning was derived from net contracts of
International Monetary Market speculators in the Japanese yen,
euro, British pound, Swiss franc and Canadian and Australian
dollars.
    In a broader measure of dollar positioning
that includes net contracts on the New Zealand dollar, Mexican
peso, Brazilian real and Russian ruble, the greenback posted a
net long position of $12.377 billion in the week ended July 9,
compared with $12.269 billion the previous week.
    The dollar has been on a downtrend since May, when the
Federal Reserve pivoted toward a dovish stance amid global trade
uncertainty and concerns about the U.S. economic outlook.
    Since May 23, the dollar index has fallen 1.6%. Five months
prior to that, the dollar had risen 3.5%.
    The Fed's concerns on trade and economy culminated in a
two-day testimony by Fed Chairman Jerome Powell, who signaled a
rate cut at its July meeting.
    An increase in dollar longs this week, however, could be
explained by a stronger-than-expected U.S. nonfarm payrolls
report last week, which suggested the Fed, will still cut
interest rates later this month, but not by 50 basis points.
    
Japanese Yen (Contracts of 12,500,000 yen) 
 $0.142 billion
         09 Jul 2019            Prior week
         week             
 Long             35,346            34,198
 Short            38,997            35,425
 Net              -3,651            -1,227
 
EURO (Contracts of 125,000 euros)
 $4.476 billion
         09 Jul 2019            Prior week
         week             
 Long            158,398           157,122
 Short           194,263           188,855
 Net             -35,865           -31,733
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $5.056 billion
         09 Jul 2019           Prior week
         week             
 Long             36,232           33,647
 Short           109,214           97,891
 Net             -72,982          -64,244
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $1.362 billion
         09 Jul 2019           Prior week
         week             
 Long              7,149            5,672
 Short            17,577           16,414
 Net             -10,428          -10,742
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-0.48 billion
         09 Jul 2019           Prior week
         week             
 Long             48,734           45,057
 Short            39,508           38,764
 Net               9,226            6,293
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $4.108 billion 
         09 Jul 2019           Prior week
         week             
 Long             31,850           34,840
 Short            85,857           93,575
 Net             -54,007          -58,735
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-2.842 billion
         09 Jul 2019           Prior week
         week             
 Long            181,214          168,532
 Short            54,832           60,265
 Net             126,382          108,267
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $1.603 billion 
         09 Jul 2019           Prior week
         week             
 Long             10,484           11,272
 Short            32,689           35,304
 Net             -22,205          -24,032
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Richard
Chang and Jonathan Oatis)
  
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