Day: May 13, 2017

Significant Position Adjustment in the Currency Futures

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The Commitment of Traders reporting period ending May 9 was particularly active.  In most weeks, there is often only a couple of significant adjustments to the speculative positioning.  In this recent reporting period there were several.   We begin with euro were a powerful short squeeze continued.  Speculators covered 27.9k previous sold euro contracts, reducing …

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Disappointing Data Clouds Dollar’s Near-Term Outlook

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Softer than expected April US retail sales and consumer prices saw the dollar pare its gains ahead of the weekend. The dollar still finished the week higher against the major currencies, except the Norwegian krone.  The krone appeared to benefit from the rally in oil prices and the unwinding of short positions against the euro …

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