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Currency Speculators raised US Dollar bullish bets, up 8 out of 9 weeks

By CountingPips.comGet our weekly COT Reports by Email

US Dollar net speculator positions rose to $22.25 billion last week

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Monday (due to the Thanksgiving Day holiday), showed that large traders and currency speculators renewed their bullishness for the US dollar last week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $22.25 billion as of Tuesday November 22nd, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of $1.38 billion from the $20.87 billion total long position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).

The US dollar aggregate speculative position has now risen for eight out of the past nine weeks and leveled above the $20 billion level for the fourth straight week (for the first time since January 2016).

Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar last week were just the British pound sterling (5,995 weekly change in contracts) and the Canadian dollar (1,137 contracts).

The currencies whose speculative bets declined last week versus the dollar were the Australian dollar (-10,813 weekly change in contracts), Japanese yen (-9,776 contracts), Mexican peso (-3,161 contracts), New Zealand dollar (-2,576 contracts), Swiss franc (-706 contracts) and the euro (-166 contracts).

 

Table of Weekly Commercial Traders (Comms) and Speculators (Specs) Levels & Changes:

Currency Net Comms Comms Weekly Chg Net Specs Specs Weekly Chg
EuroFx 132070 1098 -119348 -166
GBP 88843 -5484 -74318 5995
JPY 8964 15869 10900 -9776
CHF 41907 5386 -22900 -706
CAD 29571 -2963 -17462 1137
AUD -27269 18294 30705 -10813
NZD -523 3214 -533 -2576
MXN 48888 3999 -48314 -3161

 

This latest COT data is through last Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

Weekly Charts: Large Trader Weekly Positions vs Price

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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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 charts overlay the forex 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 By CountingPips.comGet our weekly COT Reports by Email

 

 

 

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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