Dollar net short bets rise despite passing of coronavirus relief bill

April 6, 2020

By IFCMarkets

US dollar bearish bets continued to rise reaching to $9.89 billion from $8.86 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to March 31 and released on Friday April 3. The change in overall dollar position was due to increase in bullish bets on euro and Swiss franc while bullish bets on British Pound and Japanese yen were cut further. Australian and Canadian dollars maintained net short positions against the dollar. Bearish dollar bets rose as the historic $2 trillion economic stimulus bill passed, allocating $1,200 direct payments to many Americans, more than $360 billion in loans to small businesses and $500 billion to industries, cities and states. At the same time the Labor Department report indicated the number of Americans who filed for unemployment insurance for the first time soared to a record 3.28 million in the week ending March 21.


CFTC Sentiment vs Exchange Rate

March 31 2020 Bias Ex RateTrend Position $ mln Weekly Change
CAD bearish negative -1559 468
AUD bearish negative -1949 -442
EUR bullish negative 10236 1955
GBP bullish negative 388 -414
CHF bullish negative 644 20
JPY bullish negative 2125 -558
Total 9885


commitment of traders net long short
commitment of traders weekly change
market sentiment ratio long short positions

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