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- CFTC Positioning Report: USD net longs climbed to multi-week highs
CFTC Positioning Report: USD net longs climbed to multi-week highs
The FXStreet provides the main highlights of the CFTC Positioning Report for the week ended on January 28th:
"Speculators added longs to the already positive positions in the dollar, taking the net longs to the highest level since December 17th. Traders appear to have positioned for a hawkish message from the Federal Reserve at its last meeting (following the cut-off date), particularly after positive results in the US docket.
Crude oil net longs retreated to the lowest level since early December 2019. Oversupply concerns and demand fears stemming from the Chinese coronavirus continued to take a toll on traders' sentiment for yet another week.
Net shorts in the VIX (aka "the panic index") receded to levels last seen in mid-September 2019, as concerns over the Wuhan coronavirus kept weighing on prospects of global growth.
Gross longs in the sterling dropped for the third consecutive week, taking net longs to 3-week lows around 17.7K contracts. The likeliness of an interest rate cut by the BoE seems to have prompted some cautiousness among investors."
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