The latest weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders slightly decreased their total bullish bets of the US dollar last week following six consecutive weeks of increases in USD positions.
Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, registered an overall US dollar long position of $24.8 billion as of Tuesday March 26th. This was a decline from a total long position of $25.753 billion on March 19th, according to position calculations by Reuters (US dollar positions against the total positions of eurofx, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).
Individual Currencies Large Speculators Futures Positions:
The individual currency contracts quoted directly against the US dollar last week saw increases for the Australian dollar, New Zealand dollar, Mexican peso and the Canadian dollar while the euro, British pound sterling, Japanese yen and the Swiss franc all had a declining number of net contracts for the week.
The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).
Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.
(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)
See more information and explanation on the weekly COT report from the CFTC website.
Article by CountingPips.com – Forex News & Market Analysis
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