By CountingPips – Weekly COT Report
EuroFX:
EuroFX: Large trader and speculator sentiment for the euro improved slightly last week after declining for four consecutive weeks. Euro contracts edged up to a total net position of -24,787 contracts in the data reported for March 12th following the previous week’s total of -26,116 net contracts on March 5th. This is a change of +1,329 contracts from the previous week.
Euro spec positions, two weeks ago on March 5th, were at their lowest level so far in 2013 and the lowest standing since December 11th 2012 when positions stood at -31,623 contracts before last week’s turnaround. EuroFx speculative contracts have now been in bearish territory for three weeks running.
March 12th 2013 Cot Report Data
Total Open Interest: 213,113
Non-Commerical Large Traders Net Positions: -24,787
Commercial Traders Net Positions: +35,920
Small Traders Net Positions: -11,133
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.)
See more information and explanation on the weekly COT report from the CFTC website.
Article by CountingPips.com – Forex News & Market Analysis
