| Followers | 679 |
| Posts | 140700 |
| Boards Moderated | 37 |
| Alias Born | 03/10/2004 |
Friday, July 30, 2021 10:07:49 AM
Speculators End Near-Record String of Bets Against the Buck
By: SentimenTrader | July 30, 2021
The U.S. is the place to be. Investors have been betting on domestic stocks and bonds to continue soaring. Might as well bet on the dollar, too.
Bloomberg notes that speculators in the dollar versus its major peers have flipped to a net long position for the first time in months, meaning they're shorting other currencies against the buck. This just ended the 3rd-longest streak of shorting the dollar in 30 years.
For 59 consecutive weeks, well over a year, speculators had been short the dollar. That's just below the streak of 62 weeks that ended in September 2011, which happened to mark the end of a long period of a declining dollar.
For the dollar, it was a good sign when speculators decided to start betting on the currency again after a long period of shorting it. Over all time frames up to six months later, the dollar performed well on average. There were a few losing periods, including the most recent one. But generally, the return of these trend-following traders tended to keep pushing the buck higher in the months ahead.
Read Full Story »»»
DiscoverGold
By: SentimenTrader | July 30, 2021
The U.S. is the place to be. Investors have been betting on domestic stocks and bonds to continue soaring. Might as well bet on the dollar, too.
Bloomberg notes that speculators in the dollar versus its major peers have flipped to a net long position for the first time in months, meaning they're shorting other currencies against the buck. This just ended the 3rd-longest streak of shorting the dollar in 30 years.
For 59 consecutive weeks, well over a year, speculators had been short the dollar. That's just below the streak of 62 weeks that ended in September 2011, which happened to mark the end of a long period of a declining dollar.
For the dollar, it was a good sign when speculators decided to start betting on the currency again after a long period of shorting it. Over all time frames up to six months later, the dollar performed well on average. There were a few losing periods, including the most recent one. But generally, the return of these trend-following traders tended to keep pushing the buck higher in the months ahead.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
