CFTC Commitments of Traders – British Pound Slumped as BOE Refrained from Hike Rate

Nov 06 21, 14:30 GMT

As suggested in the CFTC Commitments of Traders report in the week ended November 2, NET LENGTH of USD index futures added +525 contracts to 34 982. Bets increased on longs but dropped on shorts. The greenback got supported as the Fed will formally start QE tapering in mid-November. Concerning European currencies, NET SHORT of EUR futures declined -5 118 contracts to 6 138. NET LENGTH of GBP futures edged higher, by +94 contracts to 15 047. The BOE disappointed the market by leaving the Bank rate unchanged in November. Sterling slumped after the meeting .

On safe-haven currencies, NET SHORT of CHF future gained +1 269 contracts to 20 648 while that of JPY futures added +588 contracts to 107 624. Concerning commodity currencies, NET SHORT of AUD futures climbed +250 contracts to 75 496. NET LENGTH for NZD futures increased +4 955 contracts to 13 861 during the week. CAD futures saw NET LENGTH up +842 contracts to 4 162.