Dollar weakening accelerated on disappointing jobs report

17/6/2019

US dollar bullish bets decline accelerated to $31.05 billion from $33.32 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 11 and released on Friday June 14. The dollar weakening accelerated after weak May jobs report supported hopes of Fed interest rate cuts soon following Federal Reserve chair Powell comment the previous week the central bank would ‘act as appropriate to sustain the expansion’.


CFTC Sentiment vs Exchange Rate

June 11 2019BiasEx RateTrendPosition $ mlnWeekly Change
CADbearishnegative-2472646
AUDbearishnegative-440125
EURbearishnegative-1228826
GBPbearishnegative-3562228
CHFbearishnegative-31221421
JPYbearishnegative-5201-70
  Total-31046 

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