By CountingPips.com
EuroFX: The latest weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large trader and speculator sentiment for the euro declined last week to drop for a fourth consecutive week. Euro contracts fell to a total net position of -26,116 contracts in the data reported for March 5th following the previous week’s total of -9,394 net contracts on February 26th.
Euro spec positions are now at their lowest level so far in 2013 and the lowest since December 11th 2012 when positions stood at -31,623 contracts. Euro contracts spent just about all of 2012 (except only for December 31st 2012) in bearish territory.
Currency Futures Contracts Data: Non-Commercial Large Traders
March 5th: Long Positions = 63,355, Short Positions = 89,471, Net Total = -26,116
February 26th: Long Positions = 74,832, Short Positions = 84,226, Net Total = -9,394
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
