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U.S. dollar net long bets rise, bitcoin posts largest net long since CME launch -CFTC, Reuters

NEW YORK (Reuters) – Speculators’ internet lengthy positioning on the U.S. greenback rose within the newest week, in keeping with calculations by Reuters and U.S. Commodity Futures Buying and selling Fee information launched on Friday.

FILE PHOTO: U.S. greenback notes are seen on this November 7, 2016 image illustration. REUTERS/Dado Ruvic/Illustration

The worth of the online lengthy greenback place climbed to $13.92 billion for the week ended April 26, from $12.91 billion the earlier week. This week’s U.S. greenback internet lengthy positioning was the most important since early April, and the primary enhance in 4 weeks.

The greenback gained sharply within the month of April, surging practically 5% for its largest month-to-month share achieve since January 2015.

“There stay some moderately shocking features of the info, nevertheless, which – on the very least – counsel that the U.S. greenback’s bull transfer could have additional to run as a result of it doesn’t seem as if buyers have absolutely participated within the greenback’s close to 5% rally over the previous month,” mentioned Scotiabank in a report after the discharge of the CFTC information.

The dollar has benefited from safe-haven bids within the midst of the battle in Ukraine, lifted as nicely by larger U.S. rates of interest because the Federal Reserve embarks on an aggressive price tightening cycle to stamp out inflation.

Information additionally confirmed euro internet longs fell within the newest week to 22,201 contracts, which Scotiabank mentioned was a shock given the geopolitical and financial coverage dangers within the euro zone. The only European foreign money dropped 4.7% for the month of April, its worst month-to-month efficiency since January 2015.

In cryptocurrencies, bitcoin futures posted their largest internet lengthy place for the reason that contract was launched in 2018. For the week of April 26, internet longs in bitcoin rose to 412 contracts, in contrast with internet shorts of 194 within the earlier week, CFTC information confirmed.

Bitcoin has stabilized throughout the $37,000-$40,000 vary, with the Ukraine battle, hovering inflation, and Fed price hikes as backdrop. The world’s largest cryptocurrency by way of market capitalization has behaved extra like a danger asset.

To date this 12 months, bitcoin has fallen roughly 17% versus the greenback. It was final down 3.1% at $38,532.

Japanese Yen (Contracts of 12,500,000 yen)

$9.387 billion

26 Apr 2022 Prior week

week

Lengthy 14,269 12,723

Brief 109,804 119,910

Internet -95,535 -107,187

EURO (Contracts of 125,000 euros)

$-2.952 billion

26 Apr 2022 Prior week

week

Lengthy 222,993 221,003

Brief 200,792 189,702

Internet 22,201 31,301

POUND STERLING (Contracts of 62,500 kilos sterling)

$5.47 billion

26 Apr 2022 Prior week

week

Lengthy 40,436 36,811

Brief 110,057 95,725

Internet -69,621 -58,914

SWISS FRANC (Contracts of 125,000 Swiss francs)

$1.671 billion

26 Apr 2022 Prior week

week

Lengthy 4,455 2,900

Brief 17,324 14,350

Internet -12,869 -11,450

CANADIAN DOLLAR (Contracts of 100,000 Canadian {dollars})

$-1.628 billion

26 Apr 2022 Prior week

week

Lengthy 48,787 44,063

Brief 27,906 22,837

Internet 20,881 21,226

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie {dollars})

$1.969 billion

26 Apr 2022 Prior week

week

Lengthy 47,105 39,201

Brief 74,756 68,038

Internet -27,651 -28,837

MEXICAN PESO (Contracts of 500,000 pesos)

$-0.493 billion

26 Apr 2022 Prior week

week

Lengthy 67,389 73,710

Brief 47,263 52,046

Internet 20,126 21,664

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand {dollars})

$-0.004 billion

26 Apr 2022 Prior week

week

Lengthy 22,085 19,081

Brief 22,019 18,716

Internet 66 365

Reporting by Gertrude Chavez-Dreyfuss, Enhancing by Rosalba O’Brien

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