December 15, 2017 / 9:23 PM / 8 months ago

UPDATE 1-Speculators raise net-short dollar bets to $7.81 bln -CFTC, Reuters

 (Adds details on data, analyst quote, tables)
    Dec 15 (Reuters) - Speculators raised their net-short bets
on the U.S. dollar to $7.81 billion in the latest week, the 22nd
straight week of bearish bets against the U.S. currency,
according to data from the Commodity Futures Trading Commision
calculated by Reuters.
    It was the fourth straight week the net-negative positioning
on the dollar has increased and was the largest net-negative
position since Oct. 24. The bearish bets almost doubled from
last week's total.
    The value of the net short dollar positions, derived from
net positions of International Monetary Market speculators in
the yen, euro, British pound, Swiss franc and Canadian and
Australian dollars, was an increase from the $4.28 billion
reading in the week ended Dec. 5.
    The dollar index edged up this week as expectations rose
that the U.S. Senate would pass a tax reform bill. Although
Democrat Doug Jones was the surprise winner of a special
election in Alabama over Republican Roy Moore, the seat is still
occupied by Luther Strange, who supports the legislation. Jones
is not expected to be seated until after Christmas.
    Republican lawmakers said on Friday the U.S. Congress was
putting the finishing touches on the sweeping tax overhaul.

    “People will be eyeing up the U.S. tax plan. There are
expectations building they could have it done by next week, if
not that pushes if off until next year,” said Mark McCormick,
North American head of foreign exchange strategy at TD
Securities in Toronto.
    Speculators, however, have lost faith in the tax overhaul's
ability to generate U.S. economic growth and increase the pace
of interest rate hikes from the Federal Reserve, increasing the
bearish bets on the dollar.
    Additionally, expectations for increased global growth have
dimmed the dollar's prospects recently, as riskier currencies
would be favored in an environment of global economic strength.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
speculators in the yen, euro, British pound, Swiss franc and
Canadian and Australian dollars.
    
Japanese Yen (Contracts of 12,500,000 yen) 
 $12.565 billion
         Dec. 12, 2017          Prior week
         week             
 Long             31,747            34,766
 Short           145,870           149,033
 Net            -114,123          -114,267
 
EURO (Contracts of 125,000 euros)
 $-16.713 billion
         Dec. 12, 2017          Prior week
         week             
 Long            206,027           205,400
 Short            92,138           112,294
 Net             113,889            93,106
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $-0.948 billion
         Dec. 12, 2017         Prior week
         week             
 Long             82,611           89,270
 Short            71,223           82,864
 Net              11,388            6,406
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $3.626 billion
         Dec. 12, 2017         Prior week
         week             
 Long             19,349           17,891
 Short            48,114           47,458
 Net             -28,765          -29,567
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-3.263 billion
         Dec. 12, 2017         Prior week
         week             
 Long             62,198           66,467
 Short            20,238           24,001
 Net              41,960           42,466
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-3.077 billion 
         Dec. 12, 2017         Prior week
         week             
 Long             93,384           83,634
 Short            52,664           43,306
 Net              40,720           40,328
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-2.248 billion
         Dec. 12, 2017         Prior week
         week             
 Long            112,383          121,003
 Short            26,207           24,480
 Net              86,176           96,523
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $0.931 billion 
         Dec. 12, 2017         Prior week
         week             
 Long             23,811           24,228
 Short            37,239           37,121
 Net             -13,428          -12,893
      





 (Reporting by Dion Rabouin; editing by Grant McCool)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below