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Russian Ruble Non-Commercial Speculator Positions:
Large speculators lowered their net positions in the Russian Ruble 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 contracts of Russian Ruble futures, traded by large speculators and hedge funds, totaled a net position of 1,432 contracts in the data reported through Tuesday June 20th. This was a weekly decline of -4,921 contracts from the previous week which had a total of 6,353 net contracts.
Speculative positions have now fallen for seven straight weeks and have pushed ruble positions to the lowest level since February 16th 2016.
Russian Ruble 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 -1,552 contracts on the week. This was a weekly boost of 5,358 contracts from the total net of -6,910 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the RUBUSD Currency Pair closed at approximately $0.016 which was a fall of $-0.0008 from the previous close of $0.017, 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