Eurodollar Speculators Sharply Reduced Their Bearish Net Positions This Week
Zachary Storella | May 20, 2018 02:51AM ET
Eurodollar Non-Commercial Speculator Positions:
Large speculators decreased their bearish net positions in the Eurodollar Futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Eurodollar futures, traded by large speculators and hedge funds, totaled a net position of -3,803,128 contracts in the data reported through Tuesday May 15th. This was a weekly boost of 237,166 contracts from the previous week which had a total of -4,040,294 net contracts.
Speculative positions rose this week by the largest weekly gain since June 13th of 2017 after declining for the previous two weeks. Overall, the net position has seen bearish positions gaining stream with bearish bets rising for seven out of the past ten weeks.
Eurodollar Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 4,528,636 contracts on the week. This was a weekly decrease of -282,127 contracts from the total net of 4,810,763 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $96.935 which was a drop of $-0.065 from the previous close of $97.0, according to unofficial market data.
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