Weekly US Dollar Fundamental Forecast: Down, But Not Out

US DOLLAR NET-SHORT FUTURES GROW MARGINALLY (CHART 2)

Weekly US Dollar Fundamental Forecast: Down, But Not Out

Finally, looking at positioning, according to the CFTC’s COT for the week ended January 5, speculators held slightly increased their net-short US Dollar positions to 14,952 contracts, up from 14,557 contracts held in the week prior. Net-short US Dollar positioning has been relatively stable since the third week of December, not a surprise given the low trading volumes and general illiquid conditions seen during the Christmas-New Year’s interlude. Some evidence of short covering will likely be found in the forthcoming January 12 report.

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