FX Speculators Cut U.S. Dollar Bullish Positions For 6th Straight Week
Zachary Storella | Feb 19, 2017 05:52AM ET
The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators continued to decrease their bullish bets for the US dollar last week.
Non-commercial large futures traders, including hedge funds and large speculators, had an overall U.S. dollar long position totaling $14.99 billion as of Tuesday February 14th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly decline of $-2.08 billion from the $17.07 billion total long position that was registered the previous week, according to the Reuters calculation (totals of the U.S. dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).
Speculators have now reduced their U.S. dollar bullish positions for a sixth consecutive week and to the lowest level since October 11th when the net position equaled $14.72 billion. The dollar position is now under the +$20 billion threshold for a third week in a row after previously remaining above this level for thirteen straight weeks through January 24th.
h3 Weekly Speculator Individual Currency Contract Changes:/h3The major currencies that improved against the U.S. dollar last week were the Japanese yen (3,776 weekly change in contracts), Swiss franc (3,137 contracts), Canadian dollar (10,790 contracts), Australian dollar (7,470 contracts) and the New Zealand dollar (1,031 contracts).
The currencies whose speculative bets declined last week versus the dollar were the euro (-1,813 weekly change in contracts), British pound sterling (-989 contracts) and the Mexican peso (-1,725 contracts).
h3 Table of Weekly Commercial Traders and Speculators Levels & Changes:/h3
Get The News You Want
EuroFX:
British Pound Sterling:
Japanese Yen:
Swiss Franc:
Canadian Dollar:
Australian Dollar:
New Zealand Dollar:
Mexican Peso:
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
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.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.