CFTC’s fund stat hardly represents the total market however it provides glimpse of insight, what fund managers are putting their money into.
Latest report released on Friday showed, fund managers have reduced their USD longs to levels not seen since August last year.
- Aggregate bullish bet on the USD implied by positioning in the major currencies down to USD26.2 billion, from the previous week’s USD 37.2 billion. This stands as the largest drop in positioning since 2013.
- Fund managers aggressively reduced Euro shorts. Net short covering in Euro was $6.9 billion. Net contracts dropped from -137,000 to -89,000. In March funds were short in Euro some -226 contracts. Fund is still net short -$12.5 billion in Euro.
- After three weeks of increasing, Yen shorts were covered aggressively by $3.5 billion. Fund is net short in Yen by -$8.1 billion.
- Funds reduced pound short by $232 million, bringing net short in pound to – $2.5 billion.
- Aussie bear bets were cut short by $765 million to -$314 million, Kiwi bear bets were cut by $115 million to -$1 billion, Canadian dollar bear bets were by $ 201 million -$641 million.
- Funds reduced bullish bets on Swiss franc by cutting longs in tune of $642 million, bringing net longs to $720 million.
The material has been provided by InstaForex Company – www.instaforex.com