August 2, 2019 / 8:08 PM / 23 days ago

UPDATE 1-Speculators' net long U.S. dollar bets hit highest since late June - CFTC, Reuters

 (Adds details, table)
    NEW YORK, Aug 2 (Reuters) - Speculators' net long dollar
position rose to its highest level since late June, according to
calculations by Reuters and U.S. Commodity Futures Trading
Commission data released on Friday.
    The value of the net long dollar position totaled $18.70
billion in the week ended July 30, compared with $15.32 billion
in the previous week. U.S. net long dollars rose for a second
straight week.
    U.S. dollar positioning was derived from net contracts of
International Monetary Market speculators in the Japanese yen,
euro, British pound, Swiss franc and Canadian and Australian
dollars.
    In a wider measure of dollar positioning that
includes net contracts on the New Zealand dollar, Mexican peso,
Brazilian real and Russian ruble, the greenback posted a net
long position of $14.781 billion in the week ended July 30,
compared with $11.504 billion the previous week.
    Net long U.S. dollar positioning was helped by solid
economic data last week. Data showed last Wednesday that U.S.
gross domestic product grew at a 2.1% annualized rate in the
second quarter, compared with an unrevised 3.1% pace in the
first quarter. Economists polled by Reuters had forecast GDP
rising at just a 1.8% rate in the second quarter.
    The Fed eventually cut interest rates on Wednesday by a
quarter of a percentage point, but analysts said its statement
as well as comments from Fed Chairman Jerome Powell were not
dovish enough to expect an aggressive tightening plan.
    The dollar also benefited from the euro's woes as the
European Central Bank vowed to undertake active monetary policy
easing to shore up the region's slumping economy.
    Over the last two weeks, the dollar index has gained 1.2%.
    
Japanese Yen (Contracts of 12,500,000 yen) 
 $0.486 billion
         30 Jul 2019            Prior week
         week             
 Long             37,028            34,642
 Short            41,246            44,019
 Net              -4,218            -9,377
 
EURO (Contracts of 125,000 euros)
 $7.526 billion
         30 Jul 2019            Prior week
         week             
 Long            175,132           173,483
 Short           229,115           212,487
 Net             -53,983           -39,004
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $6.845 billion
         30 Jul 2019           Prior week
         week             
 Long             41,367           31,935
 Short           131,517          110,518
 Net             -90,150          -78,583
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $1.829 billion
         30 Jul 2019           Prior week
         week             
 Long             10,821            6,886
 Short            25,309           20,079
 Net             -14,488          -13,193
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-1.652 billion
         30 Jul 2019           Prior week
         week             
 Long             66,305           69,694
 Short            44,583           38,944
 Net              21,722           30,750
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $3.672 billion 
         30 Jul 2019           Prior week
         week             
 Long             35,450           29,500
 Short            88,892           77,480
 Net             -53,442          -47,980
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-3.364 billion
         30 Jul 2019           Prior week
         week             
 Long            164,178          162,435
 Short            35,910           37,680
 Net             128,268          124,755
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $0.814 billion 
         30 Jul 2019           Prior week
         week             
 Long             15,117           16,029
 Short            27,436           28,254
 Net             -12,319          -12,225
 
 (Reporting by Gertrude Chavez-Dreyfuss; editing by Jonathan
Oatis and Susan Thomas)
  
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