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Forex Speculators cut US Dollar bullish positions for 2nd straight week

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US Dollar net speculator positions fell to $22.45 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 consecutive week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $22.45 billion as of Tuesday December 20th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of $-5.56 billion from the $28.01 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).

Speculator positions, despite the second weekly fall, remain above the $20 billion threshold for an eighth consecutive week.

Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar last week were the Swiss franc (32,398 weekly change in contracts), Canadian dollar (10,115 contracts), euro (9,468 contracts) and the British pound sterling (12,993 contracts).

The currencies whose speculative bets declined last week versus the dollar were the Japanese yen (-12,020 weekly change in contracts),  Australian dollar (-9,532 contracts), New Zealand dollar (-3,251 contracts) and the Mexican peso (-9,022 contracts).

Table of Weekly Commercial Traders and Speculators Levels & Changes:

Currency Net Commercials Comms Weekly Chg Net Speculators Specs Weekly Chg
EuroFx 88899 -10402 -78045 9468
GBP 76493 -7347 -59350 12993
JPY 99223 11794 -75449 -12020
CHF 11363 -31817 7110 32398
CAD 13942 -6179 -11754 10115
AUD 2761 18586 3941 -9532
NZD 6535 4413 -6953 -3251
MXN 68439 10004 -66681 -9022

 

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

 

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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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By CountingPips.com – Receive our weekly COT Reports by Email US Dollar Index Non-Commercial Speculator Positions: Large forex speculators reduced their bearish net positions in the US Dollar Index futures markets 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 […]

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