USD DOLLAR
The US Dollar Index speculators edged their bullish positions higher for the sixth straight week and bets have now gained by a modest total of +8,936 contracts over that time-frame. These increases have pushed the current standing to the highest level of the past eight weeks. Speculator bullish sentiment has been slow but steadily rising in recent weeks while the dollar index price level has been in a range between 98.50 on the low side and 100.50 on the high side.
EURO
Euros speculative bets fell this week following eight straight weeks of gains. The euro position had reached a recent bearish high of -114,021 contracts on February 25th before speculators bailed out of their short positions and started a reversal the other way. This turnaround brought the bullish position to a high of +87,218 contracts last week and before this week’s cool off. Despite these gains in euro bets, the sentiment failed to benefit the EUR/USD much as the currency pair has remained below the 1.0985 exchange rate for most of the past five weeks.
STERLING
British pound speculative positions fell for the eighth straight week this week. The GBP had risen to an overall bullish position on December 24th and had maintained that bullish sentiment for the next seventeen weeks with a recent high of +35,162 contracts on March 3rd. Following that March 3rd level, the speculative trader position reversed course with consecutive weeks of negative bets that culminated with a cross into bearish territory on April 24th and further this week. The GBP/USD pair, meanwhile, has been in a range between approximately 1.2190 and 1.2635 in the past five weeks after a short spell around 1.15 in mid-to-late March.
YEN
Japanese yen speculator bets rose for a fourth straight week this week and have now gained by a total of +14,044 contracts over that period. The yen position has been in bullish territory for eight straight weeks after turning positive on March 10th and this week marked the first time bets have been above +30,000 net contracts since March 17th.
MEXICO PESO
Mexican peso bullish positions rose this week for the first time following twelve straight down weeks. The down-streak started after bullish bets hit an all-time record high of +170,366 contracts on January 28th. Since then, the speculator’s bullish position shed a total of -169,126 contracts before this week’s turnaround. The peso position has remained in bullish territory overall for seventy-one straight weeks, dating back to December of 2018.
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