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Russian Ruble Non-Commercial Speculator Positions:
Large speculators reduced their net positions in the Russian Ruble futures markets this week and turned into an overall bearish position, 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 -668 contracts in the data reported through Tuesday June 27th. This was a weekly decline of -2,100 contracts from the previous week which had a total of 1,432 net contracts.
Ruble speculative positions have now dropped into an overall short (bearish) position for the first time since January of 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 527 contracts on the week. This was a weekly gain of 2,079 contracts from the total net of -1,552 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the RUBUSD Currency Pair closed at approximately $0.0169 which was an increase of $0.0002 from the previous close of $0.0167, 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