Month: August 2010

By Russell Glaser – The EUR/USD has been testing the 200-day moving average line. Following yesterday’s decline in the price combined with using multiple time periods, an opportunity exists to enter the market with this target in mind.

The daily chart below shows the failure of the EUR/USD to close above the 200-day simple moving average. This level can be used as a target for long positions in the pair (R1 1.3265). Support for the pair comes in at the 38.2% Fibonacci retracement level from the December high at 1.3120.

A buy signal is given on the 4-hour chart as the Slow Stochastic oscillator has formed a bullish cross, indicating a potential move higher in the price of the pair.

Using multiple time periods, traders can find an opportunity to go long on the EUR/USD with a relatively nice profit to risk ratio of 2:1.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By Greg Holden – Which currency would you claim as the strongest in Europe these past three months? Only forex traders familiar with the variety of instruments available in Europe would think to guess Sweden’s krona (SEK). It’s not that the SEK is the strongest in the region, but that it has potentially outpaced most others in its bullishness, and is no doubt a contender for summer-time champion of value gained.

This Scandinavian currency has, in fact, gained 7.75% against the USD since early June, and 4% versus the euro. The krona and British pound appear to be in a close race for most ground gained this summer. And that’s not all…

Sweden’s economy is growing; and faster than many expected. Second quarter GDP was posted at 3.7%, year-on-year. Sweden’s central bank expects annual growth for 2010 to be 3.8%, and 3.6% for 2011; even though the government offered a less optimistic forecast with 3.3% in 2010, and 3.8% in 2011. Lastly, over 80% of Swedish businesses reported better-than-expected earnings. Compared to a similar figure of roughly 65% for Germany, and Sweden’s recent growth, put into that perspective, suddenly appears more favorable than some of Europe’s other major economies.

Now the major question is whether Sweden can continue such growth. The Riksbank was one of the first major European economies to raise interest rates following the recent financial crisis and recession. But some analysts worry that it may have acted too soon. Whatever the outcome of such monetary measures, the first round of results appears to be in: Sweden 1, market pessimists 0.

Technical Analysis

EUR/SEK Fails to Breach Resistance Level – Looks to Resume Bearishness

• The chart below is the EUR/SEK 4-hour chart provided by ForexYard.
• For the past week the pair has rebounded from its recent low of 9.3335, and is currently trading around the 9.3950 level.
• The Fibonacci Retracement lines show that the pair tested the 23.6% line for several times, yet failed to breach it.
• The Slow Stochastic has recently completed a bearish cross, suggesting that a bearish move could be expected.
• The MACD has completed a bearish cross as well, further indicating that a down-trend might take place soon.
• The pair has potential to drop towards the 0% support level, which is located around the 9.3500 level.

EUR/SEK – 4-Hour Chart

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By Finexo.com – Morning Forex Review – Will the Fed adopt new easing measures?

Last Friday’s report of unemployment data for July, along with weak indicators for housing and consumer spending, show a slow recovery of the US economy.

Due to this less than promising situation, the Fed is expected to maintain the current federal fund rate. Should the Fed announce new stimulus measures, the dollar could fall again. On the table, the Fed is likely to discuss restarting asset purchasing programs in order to secure the long term goal of lowering interest rates and stabilizing the economy.

Global stock markets slightly climbed yesterday as investors expected new stimulus measures and the dollar stabilized against the sterling, the euro and the yen. Coming up, watch the Bank of Japan for signs that it may take steps to control recent gains on the yen as USD inches toward the Y85 mark.

EURUSD

Depending on the outcome of the FOMC statement the pair can take two directions. An announcement of further monetary easing measures might encourage risky investment, favoring equities and volatile currencies, resulting in a drop in the dollar. If the Fed chooses to sustain its current position, higher US yields and a stronger dollar should become evident.
Support/Resistance: 1.3115/1.3240

GBPUSD

Staggering below the 1.6000 resistance level last Friday, it looks like the pound has lost some of its strength against the dollar. This may be due to the effect of investors leaning towards the euro in preparation for the release of the Bank of England Quarterly Inflation Report on Wednesday.
Support/Resistance: 1.5725/1.5865

Forex Market Review & Analysis by Finexo.com

Disclaimer: Trading the foreign exchange (Forex) carries a high level of risk, and may not be suitable for all investors.

Source: ForexYard

The Federal Reserve is expected to keep its benchmark interest rate unchanged near 0% today, as traders get ready for a busy news cycle. The Fed’s corresponding rate statement is expected to provide an assessment of the current economic condition in the world’s largest economy and more importantly provide a speculative economic outlook, likely setting short-term direction for the USD.

Economic News

USD – U.S. Dollar Advances vs. Majors ahead of Fed Statement

The U.S. dollar rose against major currencies on Monday as investors squared up positions a day ahead of this week’s Federal Reserve monetary policy announcement. As a result, the dollar rose 0.4% to 1.3190 while the British pound fell around 0.5% to 1.5830. The greenback experience similar behavior against the Japanese yen and closed at 85.95.

Traders have started to focus more on fundamentals such as economic growth and short-term interest rates. That shift, just getting underway, could take the shine off the soaring USD in the coming months. A stronger currency is important to the U.S. because it entices foreign investors to Treasury debt that finances the nation’s record budget deficit. The downside is that it may restrain profit growth at companies with international sales by making U.S. exports more expensive.

Looking ahead today, all eyes are focused on the U.S. Federal Funds Rate statement scheduled for 18:15 GMT. The overwhelming consensus is that the Fed will hold the federal funds rate steady at near-zero, where the Fed’s target has remained since December 2008. The Fed Statement is expected to provide an assessment of the current economic condition in the world’s largest economy and more importantly provide a speculative economic outlook.

EUR – Euro Sees Mixed Results vs. Majors

The 16-nation single currency completed yesterday’s trading session with mixed results versus the other major currencies. The euro was broadly unchanged versus the GBP yesterday and closed its trading session at around the 0.8320 price level. The EUR did see bearishness as well, however, as it lost over 50 pips against the AUD and closed at 1.4450

A leading indicator released yesterday from Europe was the German Trade Balance report. Germany holds the largest and strongest economy in the euro zone, and thus the relevant publications from this economy usually have a hefty impact over the euro. Data showed that German exports rose more than economists had forecast in June as the global recovery helped bolster an export-led expansion in Europe’s largest economy.

Looking ahead to today, the most important economic indicator scheduled to be released from the euro zone is the French Industrial Production. Analysts are forecasting this figure to decrease from its previous reading. Traders will be paying close attention to today’s announcement as a stronger than expected result may boost the euro in the short-term.

JPY – Japanese Yen Sinks against Basket of Currencies

The Japanese yen slid against most of the major currencies during yesterday’s trading. The JPY pared some of its gains vs. the U.S. dollar as the USD/JPY pair gained 60 pips. The yen fell against the euro and the British pound as well.

The Japanese markets were expected to have a relatively heavier effect on the JPY versus its major currency counterparts today as the Overnight Call Rate was released during the Asian trading session.

The rate was left unchanged, but traders will be paying close attention to the Bank of Japan (BOJ) Press Conference that will follow to look for expectations of Japan’s economic future, especially considering the speculation that measures will be taken to devalue the yen. A bullish statement from the BOJ could lead some traders to believe that it is forecasting a rosier financial climate in Japan. Others fear that the climate is declining and monetary measures may be taken to directly influence currency prices.

Crude Oil – Crude Oil Rises Above $81 a Barrel

Crude Oil climbed above $81 a barrel on Monday, extending last week’s 2% rise, as long-term weakness in the U.S. dollar continued to provide support, despite doubts about the strength of the U.S. economy.

Oil, and other commodities denominated in dollars for global trading, tends to rise when the USD falls since they become cheaper for holders of other currencies. A move away from dollar-based pricing of the world’s leading commodity could further weaken the greenback.

As for today, the FOMC Rate Statement will likely determine Crude Oil’s next moves, with any mildly positive elements within them likely to keep crude prices in an upward direction.

Technical News

EUR/USD

The recent bearish movement on this pair has pushed short-term indicators into showing signs of a correction. The hourly and 4-hour Stochastic (slow) are both showing fresh bullish crosses, suggesting the next move will be in an upward direction. The hourly RSI also appears to be floating deep within the over-sold territory. Going long with tight stops may be the preferential tactic today.

GBP/USD

As with the above pair, short-term indicators appear to also be showing signs of an impending upward correction. However, this pair’s long-term indicators seem to be highlighting the remaining strength of the downward movement. The daily and weekly RSI remains in the over-sold territory and is pointing downward. The weekly Stochastic (slow) also appears to have a fresh bearish cross. Downward momentum on this pair may still remain so traders may want to wait to see if the bullish channel is breached before going short on this pair.

USD/JPY

This pair’s indicators appear to be predominantly floating in neutral territory. The hourly RSI and Stochastic are both moving in a downward direction, but have not yet entered areas of significance. The 4-hour Stochastic (slow) does, however, appear to have a fresh bearish cross, signifying that we may see further downward movement in this pair today.

USD/CHF

The recent bullish movement on this pair has pushed short-term indicators into showing signs of a correction. The hourly and 4-hour Stochastic (slow) are both showing fresh bearish crosses, suggesting the next move will be in a downward direction. The hourly RSI also appears to be floating deep within the over-bought territory. Going short with tight stops may be the preferential tactic today.

The Wild Card

USD/ZAR

This pair has been trading in a flat range between 7.2500 and 8.0000 since the middle of 2009. The pair has just recently touched the lower border of this range at 7.2500 and long- and short-term indicators seem to be pointing towards an impending upward correction. The daily RSI floats in the over-sold territory, and the weekly Stochastic (slow) is preparing to form a bullish cross. Forex traders have a unique opportunity today to enter this impending upward movement at the lowest possible entry price and ride out the wave for immense profits.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By eToro – Expectations that the US Federal Reserve will keep rates unchanged lead investors into riskier assets but profit taking pared the gains for the currency pair. The EUR/USD is likely to push through resistance at 1.3300.
Click here to read the full daily Review

Forex Market Analysis provided by eToro

Disclaimer: Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don’t trade with money you can’t afford to lose.

AUDUSD breaks below the trend line from 0.8632 to 0.8905, suggesting that a cycle top is being formed at 0.9221 level on 4-hour chart. Range trading between 0.9070 and 0.9221 is expected in a couple of days. As long as 0.9070 key support holds, the price action from 0.9221 is treated as consolidation of uptrend from 0.8632 and one more rise towards 0.9300 is still possible. However, a break below 0.9070 could indicate that lengthier consolidation of uptrend is underway, then the pair would find support at 0.9000 area.

Daily Forex Forecast

By GCI Forex Research

Fundamental Outlook at 1400 GMT (EDT + 0400)

€

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3235 level and was capped around the $1.3305 level.  The common currency has gained about 6% from four-year lows in June amid slowing U.S. economic activity.  Many banks are pushing back their forecasts for eventual European Central Bank monetary policy tightening with some eyeing late 2011 or early 2012 as to when policy could begin to be normalized.  German 10-year bond yields are near a record low as most traders expect the ECB to remain on hold and the Federal Reserve to possibly signal it may resume asset purchases in some capacity.  Three-month U.S. Libor fell to 0.404%, its lowest level since 6 May, while three-month Euro Libor was unchanged around 0.834%.  ECB member Paramo called on Spanish lenders to strengthen bank capital and ECB member Orphanides said there is “no urgency” to begin raising rates.  In contrast, ECB’s Quaden said the ECB “needs to be more attentive on inflation.”  Data released in the eurozone today saw August Sentix investor confidence improve sharply to 8.5 from the prior reading of -1.3.  Also, the German June trade balance improved to €14.1 billion and the June current account expanded to €12.9 billion.  Other data saw French July Bank of France business sentiment steady at 101.  In U.S. news, the Federal Open Market Committee will release its interest rate decision tomorrow and policymakers are expected to keep the federal funds rate target unchanged at 0.25%.  The big question on traders’ minds is whether or not the Fed will signal a resumption of its credit expansion programs.  Dealers are focused on the possibility the Fed will reinvest proceeds from maturing assets back into the market to keep a lid on market interest rates rather than keeping cash on its balance sheet.  Recent U.S. economic activity has slowed or worsened and the Fed’s biggest task will be to reduce the U.S. unemployment rate.  Data to be released in the U.S. tomorrow include Q2 non-farm productivity, Q2 unit labour costs, and June wholesale inventories.  Euro offers are cited around the US$ 1.3505 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥85.75 level and was supported around the ¥85.30 level.  The pair continues to trade in the ¥85 handle, an area where many dealers believe Japanese monetary authorities will intervene to prevent the yen from surging further.  Others, however believe Japanese authorities are pleased with improving domestic demand and an export-led recovery and will not feel forced to intervene around these levels.  Former Bank of Japan Assistant Governor Hirano warned “If the pace of the yen’s rise is too fast, Japan may try to check it by showing its readiness to intervene.”
He added “Japan is unlikely to obtain other nations’ consent for launching a solo intervention.” Bank of Japan’s Policy Board convened overnight to discuss monetary policy and is not expected to alter policy when its decision is announced tonight.  Government official Hiraoka said the central bank cannot counter deflation alone, reporting “Japan must fight an all-out battle to change deflationary sentiment by utilizing various measures, including fiscal and social welfare policies.”  Some government officials are still calling for the Kan government to impose an inflation target on the central bank.  Data released in Japan overnight saw the June current account total narrow to ¥1.047 trillion while the June trade balance nearly doubled to ¥769.0 billion.  Also, July bank lending was off 1.7%.  Data to be released overnight include the July economy watchers survey and July bankruptcies data.  The Nikkei 225 stock index lost 0.72% to close at ¥9,572.49.  U.S. dollar bids are cited around the ¥85.30 level.   The euro moved lower vis-à-vis the yen as the single currency tested offers around the ¥113.25 level and was capped around the ¥113.90 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥136.90 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥82.50 level. In Chinese news, the U.S. dollar depreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.7684 in the over-the-counter market, down from CNY 6.7686.  People’s Bank of China set the yuan’s reference rate at its strongest level since the currency peg was ended in July 2005.  There is talk that a Chinese government commitment to energy reduction may reduce industrial output growth in the near term.  Chinese exports data will be released overnight and could show exports growth decelerated to 35% last month.  Former PBoC Deputy Governor Wu said China should not introduce additional stimulus measures.

£

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5995 level and was supported around the US$ 1.5930 level.  Bank of England is expected to reduce its U.K. economic growth projections and increase its inflation forecast.  The BoE Quarterly Inflation Report will be released on Wednesday and will likely trim the Bank’s May forecast of 3.4% economic growth for 2011 and 3.6% growth for 2012.  There is talk the Bank could reduce its projections by up to a full percentage point.  Data to be released in the U.K. overnight include the BRC July retail sales monitor and July RICS house price balance.  Cable bids are cited around the US$ 1.5640 level.  The euro depreciated vis-à-vis the British pound as the single currency tested bids around the £0.8295 level and was capped around the £0.8335 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0415 level and was supported around the CHF 1.0370 level.  Data to be released in Switzerland tomorrow include July SECO consumer confidence followed by July producer and import prices on Friday.  Data released in Switzerland last week saw the July unemployment rate tick lower to 3.6% from the prior level of 3.7%.  S&P last week withdrew its short-term ratings of “AAA/A-1+” on Swiss National Bank on account of the lack of rated debt outstanding.  U.S. dollar offers are cited around the CHF 1.0980 level.  The euro depreciated vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.3760 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.6620 level.

Forex Daily Market Commentary provided by GCI Financial Ltd.

GCI Financial Ltd (”GCI”) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (”Forex”) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (”CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

By Jonathan Dayan – Everyone likes to be a winner – it’s one of the few things in life which can be pretty much taken for granted. In practice, however, how many of us have the energy, stamina or physical strength to compete for glory in football, basketball, athletics or etc? Happily, if your talents are more intellectual than physical there are other ways to demonstrate your prowess than physical exertion. Few of these opportunities are more rewarding financially than financial trading tournaments where you compete with fellow traders online for trading success.

These tournaments can give you the opportunity to prove your trading skills to the wider financial trading community and to earn real financial rewards worth thousands of dollars at the same time. In this article I’ll discuss a few key tips which could help would be winners achieve that longed-for place on the champions’ podium.

Step 1: See, follow and copy

One of the most rewarding opportunities to emerge from online financial trading recently is the ability to see in pinpoint detail how other people are trading in the financial markets; live. Thanks to innovative products like eToro’s OpenBook social trading network (http://openbook.etoro.com/), every financial investor can now follow the trading activity of any investor they choose. By doing so it is possible to study the trading strategies of traders you admire as well as interacting with them and sharing strategies and trading tips. Perhaps most appealingly of all, social trading networks like OpenBook offer you the ability to copy the trading positions of any trader you admire, one for one, in real time. This ability can offer a huge boost to the success rates of your trades if you’re still getting to grips with financial trading for yourself. In particular, it can help you boost your ratings within the context of a trading challenge. If there are financial traders out there who you admire, and frankly there should be, tools like the OpenBook offer a powerful way for you to emulate their trading styles and to apply the best of their insights for the benefit of your trading and your challenge ranking.

Step 2: Manage your money

If a financial trading championship had to be compared to a competitive sport the best analogy would be a marathon. Whereas in shorter events it’s the ability to commit everything you have to a single moment which brings you victory, in a marathon your ability to use your reserves over time and across the whole of the challenge will bring you a win. In the same way, to ensure victory in a financial trading championship is about much more than one or two effectively executed and profitable trades. In a trading challenge victory is about the ability to trade effectively over a sustained period of time, and over the whole series of trades you make. Victory does not require that you’re ahead of competitors at every moment, or that all your trades close exactly as you want, rather it reflects the whole of your trading performance across the challenge. In order to succeed it is vital that a trader is able to manage their money effectively. Using up the margin in your account at the start of a challenge by opening too many highly leveraged positions can leave you with nothing left to work with as the competition enters its closing stages. On the other hand, holding back too much when a good opportunity comes your way can also leave you out of the running.

Step 3: Stick to your plans

In general, when you’re financial trading, most of the work that goes into your trading should happen in the preparation stages, before you even execute your trades. Effective preparation will enable you to pinpoint the opportunities that you’re seeking to pursue and the cut-off points where you can best cut your losses or take your profits. Once you’ve made the effort to engage in effective forward planning it is critical to try to stick to the plans which you’ve made. In a financial trading championship, where you are competing directly with other traders, every cent can count. In such circumstances it can be tempting for some traders to let their trades run on after they have hit their profit targets or else their losses have exceeded their stops. Alternatively, too many traders break out of their trades too soon by taking profits in advance of their targets or quitting a losing position well before the stop loss position that they’ve identified in advance. However, it’s almost always the case that the heat of battle is the worst possible moment to make strategic decisions, especially when you’re locked in the midst of the excitement generated by a trading championship. In general, you’ll produce better results by sticking with your original assessment and following the plans you’ve worked to create.

Step 4: Stay faithful to what you know

Competing in a financial trading challenge offers you perhaps the worst possible moment to start experimenting with your trading style or with the assets that you’re investing in. Nevertheless, this is precisely the moment when a lot of traders start doing just that, in the hope of increasing their success rates. When you’re in a challenge, sticking to what you know best, the tried and tested tactics which have worked for you in the past is the surest way to reach your goals. When the results are in and you have the opportunity to reflect, trading challenges offer you a good opportunity to look back on what worked and what did not and to learn lessons which you can apply to your trading in the future. In the heat of the moment, however, it is your ability to be consistent and to work with what you know which is likely to prove your surest path to success.

Step 5: Remember that there’s always another day

A lot of us like to feel like we’re the experts at what we do even from the moment that we first start out at anything new. When it comes to financial trading challenges, however, this attitude can quickly lead you to disaster. No-one in their first days of financial trading should expect to walk away with the winner’s prize from their first financial trading championship. Doing so requires practice and experience – experience of getting things right in your trading and also experience of making mistakes and learning from them as a result. If you are trading in your first challenge remember this. Because online trading platforms like eToro (www.eToro.com) offer you a new opportunity to join a trading challenge every week there is no excuse to get carried away on your first attempt, and open yourself up to the risk of heavy losses from your account as a result. Victory, if it is to be yours, will come from experience, and the willingness to learn by observing how other more experienced traders are achieving their successes. Above all, it will come when the time is right.

Forex Market Analysis provided by eToro

Disclaimer: Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don’t trade with money you can’t afford to lose.

By CountingPips.com

The latest Commitments of Traders (COT) data out on Friday showed that futures speculators continued to decrease their bets for the U.S. dollar against the euro for a fifth consecutive week as of August 3rd, according to the COT data released by the Chicago Mercantile Exchange. Non-commercial futures positions, those taken by hedge funds and large speculators, were net short the euro against the U.S. dollar by -7,297 contracts after being net short the euro by -21,339 contracts the week before on July 27th.

Euro short positions have now declined for five straight weeks as sentiment has turned around quickly in the past few months with euro short positions having come off the all-time low level of -113,890 in May to being now at the best level since December 2009.

The COT report is published every Friday by the Chicago Mercantile Exchange (CME) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity. Each currency contract is a quote for that currency directly against the U.S. dollar, where as a net short amount of contracts means that more speculators are expecting that currency to fall against the dollar and net long position expect that currency to rise versus the dollar.

The British pound sterling was the only other major currency in addition to the euro that was net short in the CME futures market against the dollar as of August 3rd while the Australian dollar, New Zealand dollar, Japanese yen, Swiss franc, Canadian dollar and Mexican peso all had a net long amount of contracts against the dollar.

The British pound positions were just barely on the short side last week as net shorts decreased for a fourth straight week to just -250 short positions from a total of -17,940 that were reported net short on July 27th.

The Swiss franc positions turned to net long in the middle of June and continued higher to 16,223 long contracts after dipping to 6,216 long contracts the week prior. This currently marks the highest number of net long contracts for the Swiss franc since December 2009.

The Japanese yen  net long contracts rose last week to 47,998 from 29,921 net long contracts on July 27th. Yen positions have risen substantially from May after being short by -65,612 contracts on May 4th.

The Australian dollar futures positions gained for fourth straight week and were net long by 48,715 contracts as of August 3rd following a net 40,533 long contracts on July 27th. The New Zealand dollar futures positions rose higher for a seventh straight week with 15,059 long contracts after a total of 13,674 long contracts as of July 27th.

The Canadian dollar long positions increased to a net 34,182 long contracts after 23,868 net longs the week before while Mexican peso long contracts advanced for a fourth straight week to 55,141 longs from 45,318 longs the week.

COT Data Summary (vs. the US Dollar) as of August 3rd, 2010

Euro: -7,297 shorts from – 21,339
British pound sterling: -250 shorts from -17,940
Australian dollar: 48,715 long contracts from 40,533
Canadian dollar: 34,182 long contracts from 23,868
Japanese yen: 47,998 long contracts from 29,921
Mexican peso: 55,141 long contracts from 45,318
New Zealand dollar: 15,059 long contracts from 13,674
Swiss franc: 16,223 long contracts from 6,216

Go to the Commitment of Traders CME raw futures data