These are the highlights of the CFTC Positioning Report for the week ending April 1, a day before the Trump’s so-called “Liberation Day”.
Speculative net longs on the US Dollar (USD) fell to yearly lows near 7K contracts as open interest remained steady. The US Dollar Index (DXY) also pulled back from multi-day highs above 104.00, lingering just below its 200-day SMA.
Meanwhile, speculators trimmed their bullish bets on the Japanese Yen (JPY) to five-week lows near 122K contracts, while commercial players increased their net shorts to three-week highs. During this period, USD/JPY tested the critical 200-day SMA near 151.30 before retreating.
For the Euro (EUR), non-commercial net longs receded from previous peaks to around 52K contracts. In turn, EUR/USD bounced back from its 200-day SMA zone near 1.0730, regaining momentum to hover around the 1.0800 mark.
In the commodities arena, speculators reduced their net longs in gold to three-week lows of around 238.5K contracts following another dip in open interest. Despite this, the yellow metal’s prices remained strong, reaching record highs above $3,100 per troy ounce amid persistent uncertainty over US trade policy and recession fears.
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