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US Dollar Index Non-Commercial Speculator Positions:
Large currency speculators advanced their net positions in the US Dollar Index futures markets again 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 2,586 contracts in the data reported through Tuesday May 22nd. This was a weekly gain of 2,568 contracts from the previous week which had a total of 18 net contracts.
Speculative positions for the dollar index have improved for five consecutive weeks and pushed the net position into bullish territory for a second week. The current net position is at the best level since December 19th when the net position totaled +3,868 contracts.
US Dollar Index Commercial Positions:
Free Reports:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -7,017 contracts on the week. This was a weekly decrease of -2,332 contracts from the total net of -4,685 contracts reported the previous week.
UUP:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the UUP ETF, which tracks the price of US Dollar Index, closed at approximately $24.61 which was a gain of $0.11 from the previous close of $24.5, 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 – Receive our weekly COT Reports by Email