Home / Forex & Currency Exchange News / Forex Speculators cut US Dollar bullish bets to lowest since October

Forex Speculators cut US Dollar bullish bets to lowest since October

By CountingPips.comGet our weekly COT Reports by Email

US Dollar net speculator positions fell to $12.70 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 reduced their bullish bets for the US dollar last week for a second straight week and to the lowest level since October.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $12.70 billion as of Tuesday May 2nd, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly decline of $-2.59 billion from the $15.29 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).

Last week’s decline followed four straight weeks that had seen very muted movements in the aggregate US dollar position. The overall bullish position is now at the lowest level since October 4th when the aggregate position equaled $10.52 billion.

Weekly Speculator Individual Contract Changes:

The individual major currencies that improved against the US dollar last week were the euro (19,242 weekly change in contracts), British pound sterling (9,818 contracts) and the New Zealand dollar (3,434 contracts).

The currencies whose speculative bets fell last week versus the dollar were the Japanese yen (-3,614 weekly change in contracts), Swiss franc (-391 contracts), Canadian dollar (-5,062 contracts), Australian dollar (-27 contracts) and the Mexican peso (-923 contracts).

 

Table of Weekly Commercial Traders and Speculators Levels & Changes:

Currency Net Commercials Comms Weekly Chg Net Speculators Specs Weekly Chg
EuroFx 828 -12961 -1653 19242
GBP 78532 -13749 -81364 9818
JPY 42119 8317 -30483 -3614
CHF 26213 266 -17708 -391
CAD 61470 8725 -47704 -5062
AUD -40638 1231 42675 -27
NZD 14227 -2328 -11970 3434
MXN -19636 788 15115 -923

 

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

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 CountingPips.com

 

Click Here For Original Source Of The Article

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.

Check Also

Should You Sell Your Precious Metals to Buy Bitcoin?

Should You Sell Your Precious Metals to Buy Bitcoin?

By Money Metals News Service There is a new trend by individuals in the alternative media community who are now selling out of precious metals and buying into Bitcoin and cryptocurrencies. While this may seem like a good idea, especially when Bitcoin and the cryptocurrencies reach new all-time highs, it is likely a big mistake. […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php