By CountingPips.com
GBP: British pound sterling spec positions decreased for a seventh consecutive week last week and dropped to their lowest level since November 2011. British pound speculative positions declined to a total of -43,849 net contracts on March 5th following a total of -36,130 net contracts that were reported on February 26th.
Pound speculator positions have now been in a negative bearish position for four straight weeks and are at the lowest level since November 29th 2011 when positions equaled -46,660 contracts.
Currency Futures Contracts Data: Non-Commercial Large Traders
March 5th: Long Positions = 36,021, Short Positions = 79,870, Net Total = -43,849
February 26th: Long Positions = 31,126, Short Positions = 67,256, Net Total = -36,130
The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).
Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.
(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)
Article by CountingPips.com – Forex News & Market Analysis
