By CountingPips.com
The latest weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders added to their bullish bets in favor of the US dollar for a fifth consecutive week last week. The bets for American currency continue to be at the highest overall long position since July 17th 2012, according to Reuters research.
Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, registered an overall US dollar long position of $25.46 billion as of Tuesday March 12th. This was an increase from a total long position of $23.57 billion that was registered on Tuesday March 5th, according to the CFTC’s COT data and trader position calculations by Reuters, which calculates the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
Individual Currencies Large Speculators Futures Positions:
The individual currency contracts quoted directly against the US dollar last week saw increases for the euro, Australian dollar, New Zealand dollar and the Mexican peso while the British pound sterling, Japanese yen, Canadian dollar and the Swiss franc had a declining number of net contracts compared to the previous week.
Individual Currency Reports with Charts:
EuroFX: Non-Commerical Large Traders Net Positions: -24,787
Great Britain Pound: Non-Commerical Large Traders Net Positions: -49,800
Japanese Yen: Non-Commerical Large Traders Net Positions: -93,763
Swiss Franc: Non-Commerical Large Traders Net Positions: -13,488
Canadian Dollar: Non-Commerical Large Traders Net Positions: -53,397
Australian Dollar: Non-Commerical Large Traders Net Positions: +23,266
New Zealand Dollar: Non-Commerical Large Traders Net Positions: +19,350
Mexican Peso: Non-Commerical Large Traders Net Positions: +113,770
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
