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Speculators slightly raised US Dollar bullish positions for 2nd week

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US Dollar net speculator positions edged higher to $15.34 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 slightly added to their bullish bets for the US dollar last week for a second straight week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $15.34 billion as of Tuesday April 18th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly gain of $0.30 billion from the $15.04 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).

US dollar speculative positions have stayed in a very tight range over the past four weeks with a low of $14.67 billion and a high of $15.34 billion. Weekly changes have been below $1 billion for the past three weeks.

 

Weekly Speculator Contract Changes:

The major currencies that rose against the US dollar last week were the British pound sterling (6,411 contracts), Japanese yen (4,301 contracts), New Zealand dollar (147 contracts) and the Mexican peso (26,919 contracts).

The currencies whose speculative bets fel last week versus the dollar were the euro (-2,693 weekly change in contracts), Swiss franc (-3,674 contracts), Canadian dollar (-918 contracts) and the Australian dollar (-1,889 contracts).

 

Table of Weekly Commercial Traders and Speculators Levels & Changes:

Currency Net Commercials Comms Weekly Chg Net Speculators Specs Weekly Chg
EuroFx 20348 4272 -21649 -2693
GBP 105212 -7218 -99490 6411
JPY 38128 -7271 -30463 4301
CHF 25224 3066 -13802 -3674
CAD 42167 3572 -33252 -918
AUD -46433 2013 43262 -1889
NZD 15757 -213 -15006 147
MXN -20104 -26911 14244 26919

 

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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