By CountingPips.com – Receive our weekly COT Reports by Email
Brazil Real Non-Commercial Speculator Positions:
Large speculators increased their net positions in the Brazil Real futures markets for a second straight week 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 Brazil Real futures, traded by large speculators and hedge funds, totaled a net position of 4,282 contracts in the data reported through Tuesday June 27th. This was a weekly rise of 312 contracts from the previous week which had a total of 3,970 net contracts.
The two small rises in bullish net positions the past two weeks have brought the overall net position to its highest level of the past five weeks. Despite the past weekly rises, the net position has now remained under the +10,000 threshold for nine weeks in a row.
Brazil Real Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -5,145 contracts on the week. This was a weekly decrease of -281 contracts from the total net of -4,864 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the BRLUSD Currency Pair closed at approximately $0.3006 which was an advance of $0.0007 from the previous close of $0.2909, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures 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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com – Weekly COT Report