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CFTC Commitments of Traders – Expect GBP Futures to Return to Net Long after Hawkish BOE

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As suggested in the CFTC Commitments of Traders report in the week ended August 3, NET SHORT of USD index futures gained +2 340 contracts to 18 881. Speculative long positions added +1 703 contracts while shorts decreased -637 contracts. Concerning European currencies, NET LENGTH in EUR futures sank -119 contracts to 38 007. GBP futures’ NET SHORT was trimmed sharply, by -5 598 contracts, to 86. It is possible that GBP futures would return to net length next week as sterling could recover after a more-hawkish-than-expected BOE.

On safe-haven currencies, NET LENGTH of CHF futures dropped -946 contracts to 7 543 while NET SHORT of JPY futures fell -4 744 contracts to 55 190. Concerning commodity currencies, NET SHORT of AUD futures increased +1 936 contracts to 41 283 while NZD futures drifted to NET SHORT of 325 contracts during the week. NET LENGTH of CAD futures gained+2 086 contracts to 7 460 during the week.

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