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Speculative net long positions in the US dollar rose in CFTC data, with bitcoin posting its largest net long since CME launched it. The greenback has benefited from safe-haven demand tied to the war in Ukraine and from higher US rates as the Fed tightens policy.
Large speculative dollar longs signal continued currency strength that can weigh on dollar-priced agricultural commodities, though positioning alone does not establish a new trend.
reuters.comGertrude Chavez-DreyfussApr 29, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
