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Currency Speculators slightly reduced US Dollar bullish positions last week


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US Dollar net speculator positions edged lower to $15.29 billion last week

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 just barely reduced their bullish bets 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 $15.29 billion as of Tuesday April 25th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly decline of $-0.05 billion from the $15.34 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 aggregate US dollar speculator position continues to show a very muted weekly change for the fourth consecutive week. Weekly changes have remained under $1 billion ever since a $-3.17 billion decline on March 28th. The overall aggregate bullish level continues to hover right around $15 billion for the fifth straight week.


Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar last week were the euro (754 weekly change in contracts), British pound sterling (8,308 contracts), Japanese yen (3,594 contracts) and the Mexican peso (1,794 contracts).

The currencies whose speculative bets declined last week versus the dollar were the Swiss franc (-3,515 weekly change in contracts), Canadian dollar (-9,390 contracts), Australian dollar (-560 contracts) and the New Zealand dollar (-398 contracts).


Table of Weekly Commercial Traders and Speculators Levels & Changes:

Currency Net Commercials Comms Weekly Chg Net Speculators Specs Weekly Chg
EuroFx 13789 -6559 -20895 754
GBP 92281 -12931 -91182 8308
JPY 33802 -4326 -26869 3594
CHF 25947 723 -17317 -3515
CAD 52745 10578 -42642 -9390
AUD -41869 4564 42702 -560
NZD 16555 798 -15404 -398
MXN -20424 -320 16038 1794


This latest COT data is through Tuesday 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. 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



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 CountingPips.com



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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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