Speculators Sell European Currency Futures

There does not seem to be a large pattern in the speculative position
adjustments in the CFTC reporting week ending July 26.
  There was only one significant
position adjustment (10k of more
The euro bears added another 10.3k
contracts to their gross short position,
 which brought it to 221.8k contracts.
 This is this is the largest gross
short position since early January.  It is the fifth consecutive increase.
 The speculative gross short position was near 123k contracts in mid-May.
Speculators were also keen to sell
  It was the second largest gross
position adjustment among the currency futures.  The gross short position rose by 8k contracts to
110.4k contracts, which is spitting distance of the record high of 111k contracts. The
net short position of 80.6k contracts is a record.  
The 7.4k contract increase in the gross
short Swiss franc position, to round out the European currencies, was the third
largest speculative position adjustment in the latest reporting period.
  The gross
short position stands at 25.9k contracts.  
Meanwhile, speculators trimmed their gross long yen
position for the third consecutive week.
  The liquidation of 5.8k contracts brings the gross long position to 74.1k contracts, which
is the smallest since early-June.  
In the dollar-bloc currencies, speculators
mostly trimmed positions, reducing both gross longs and gross shorts. 
 The exception the Canadian dollar bulls.  They
added less than one thousand contracts to bring their gross position to 44k contracts.  The sale of 4.6k gross long
Australian dollar contracts ended the four-week accumulation period by

The bears
continue to be squeezed out of their
short 10-year Treasury note futures
.  Another 62.2k gross short contracts were covered, leaving 420.9k gross short contracts.  At the end of
June, the speculative gross short position was nearly 600k contracts.  The
bulls added another 13.9k contracts to
their gross long position, giving them
606.5k contracts.  As a consequence of these adjustments to the gross positions, the net long speculative
position rose to 185.5k contracts from 109.4k.  

The bulls and bears wanted more action in
the oil futures.
  The bulls
took on another 13.7k contracts, giving them a gross long position of 539.3k
contracts.  The bears sold 30k contracts to bring the gross short position to 266k contracts.
 In the last couple of weeks, the gross
positions were reduced, but the net
position grew.  This week the gross
positions rose but the net long position
slipped by 16.3k contracts to 273.3k contracts.   

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