The weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders sharply cut their total bullish bets of the US dollar last week and decreased their holdings for a second consecutive week.
Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, pulled back on their overall US dollar long positions to a total of $28.28 billion as of Tuesday June 11th. This was a decrease from a total long position of $39.12 Billion registered on June 4th, according to position calculations by Reuters that derives this total by the amount of US dollar positions against the combined positions of euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
On May 28th, US dollar long positions reached their highest level on record (Reuters data) with a total of $43.77 billion before retreating.
See the Full COT Currencies Report & Charts….
The US dollar fell sharply across the board against the other major currencies last week in the forex trading action. The American currency continued to decline for a fourth straight week against the euro, the Swiss franc and the Japanese yen while falling against the British pound sterling for a third week. Against the commodity currencies, the the US dollar declined against the Canadian dollar for a second straight week while the Australian and the New Zealand dollars finally staged a rebound from their five-week bearish trends and recorded weekly increases.
See the Full Report and Currency Pair Levels Commentary…
Monday, June 17
Canada — existing home sales
Tuesday, June 18
Australia — reserve bank meeting minutes
United Kingdom — producer price index
United Kingdom — consumer price index
United Kingdom — retail price index
euro zone — German ZEW report
United States — consumer price index
United States — housing starts and building permits
Japan — trade balance
Wednesday, June 19
Switzerland — ZEW survey report
United Kingdom — bank of England minutes
United States — FOMC interest rate decision
New Zealand — GDP report
Thursday, June 20
Switzerland — interest rate decision
Switzerland — trade balance report
China — HSBC manufacturing PMI
Japan — leading index/coincident index
euro zone — purchasing managers indexes
United States — weekly jobless claims
United States — Philadelphia Fed reserve survey
United States — leading indicators
United States — existing home sales
Friday, June 21
Canada — consumer price index
Canada — BOC consumer price report
Canada — monthly retail sales
See our full economic calendar for more events.
