Speculators reduced overall bullish bets in WTI crude last week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators reduced their overall bullish bets in WTI oil futures last week for the first time in three weeks.

The non-commercial contracts of crude oil futures witnessed a weekly change of - 8,473 contracts to total a net position of +339,518 contracts during the reporting time period - May 26th to Tuesday June 2nd. Long positions in oil futures decreased by 7,551 contracts, while short positions rose by 922 contracts.

Meanwhile, during the reporting time period, WTI crude oil price advanced from USD 58.03/barrel to USD 61.26/barrel.

Jun 8, 2015

GBP/USD hits session low of 1.5230

The GBP/USD pair ran into offers at the high of 1.5303, post which the pair dropped to a fresh session low of 1.5230.

EUR/GBP hovers around 0.7300

The shared currency outperforms the pound in the mid-European session, now pushing EUR/GBP higher around 0.73 handle. The cross remains elevated largely on sterling weakness despite Moody’s upbeat UK growth forecasts, as the rating agency highlighted that Britain’s high debt burden remains a key weakness. While the EUR heads higher on rising German yields and on ECB Nowotny’s comments.