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Hedge funds strongly increase their bets on the euro

The euro rose to 1.1333 (+0.52%) against the dollar on 7 May, at the end of a week that saw mixed macro-economic data for the eurozone, with a new collapse in German industrial production, and negative for the United States, especially those related to the labor market and with investors still frightened by the developments of the trade war between the United States and China, amid President Donald Trump's constant threats over the possibility of further increasing tariffs on Chinese products.

According to the latest data by the Chicago Mercantile Exchange, leveraged funds have increased their long positions by +6,449 units to 42,983 and decreased short positions by -5,532 units to a total of 134,965, bringing the difference between long and short positions below the significant threshold of 100,000 and thus proving to bet on an appreciation of the euro against the dollar in the short term. The dealers decreased their long positions by -4,178 units to 31,491 overall and strongly increased their short positions by +11,449 units to 101,255 overall, proving to bet on an appreciation of the dollar in the medium and long term. Finally, asset managers decreased both their long positions to -296,762 units (-726) and their short positions (-1,852) to 163,488 units.

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