By CountingPips.com – Receive our weekly COT Reports by Email
Eurodollar Non-Commercial Speculator Positions:
Large speculators reduced their bearish net positions in the Eurodollar 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 Eurodollar futures, traded by large speculators and hedge funds, totaled a net position of -2,841,453 contracts in the data reported through Tuesday June 26th. This was a weekly gain of 49,918 contracts from the previous week which had a total of -2,891,371 net contracts.
The bearish speculator position has now fallen for seven straight weeks and for eight out of the past ten weeks. The overall level is at the least bearish position since January 23rd when the net position totaled -2,839,919 contracts.
Eurodollar Commercial Positions:
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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 3,528,879 contracts on the week. This was a weekly loss of -74,120 contracts from the total net of 3,602,999 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $97.02 which was an uptick of $0.03 from the previous close of $96.99, 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
