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Friday, June 21, 2024

USD/CHF Sentiment has increased substantially over 3 months

Key Takeaways:

  • According to the data, the total open interest in CHF futures has increased from 51,236 contracts on January 2, 2024, to 93,411 contracts on April 16, 2024.
  • This shift in positioning suggests that these market participants have become increasingly bearish on the Swiss Franc.
  • The recent strengthening of the U.S. Dollar and the ongoing uncertainty surrounding the global economic recovery may have contributed to the bearish sentiment in the CHF futures market.

Sentiment Data for CHF

The Commitment of Traders (COT) data for the Swiss Franc (CHF) futures traded on the Chicago Mercantile Exchange (CME) has shown a significant decrease in sentiment over the past few months. The COT report, which is released weekly by the Commodity Futures Trading Commission (CFTC), provides a breakdown of the open interest positions held by various market participants, including dealers, asset managers, leveraged funds, and other reportable and non-reportable traders.

CHF COT Data.

According to the data, the total open interest in CHF futures has increased from 51,236 contracts on January 2, 2024, to 93,411 contracts on April 16, 2024. However, during this period, the net positions held by asset managers and leveraged funds have shifted from long to short, showing a change in sentiment.

On January 2, 2024, asset managers held a net short position of 17,909 contracts. By April 16, 2024, asset managers had a net short position of 45,514 contracts. This shift in positioning suggests that these market participants have become increasingly bearish on the Swiss Franc.

The change in sentiment can be due to different reasons. The recent strengthening of the U.S. Dollar and the ongoing uncertainty surrounding the global economic recovery may have contributed to the bearish sentiment in the CHF futures market.

Lazarus
Lazarushttps://ljlnews.com
Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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