By CountingPips.com – Receive our weekly COT Reports by Email
Eurodollar Non-Commercial Speculator Positions:
Large speculators slightly trimmed their bearish net positions in the Eurodollar futures markets 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 -3,287,665 contracts in the data reported through Tuesday July 17th. This was a weekly advance of 3,702 contracts from the previous week which had a total of -3,291,367 net contracts.
Speculative positions had seen two very bearish weeks the previous two weeks (a total decline by -449,914 contracts) before this week’s slight turnaround (+3,702 contracts). The overall net bearish standing is above the -3,200,000 contract level for a third straight week.
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 4,033,715 contracts on the week. This was a weekly uptick of 39,516 contracts from the total net of 3,994,199 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $96.995 which was an increase of $0.01 from the previous close of $96.985, 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
