By CountingPips.com
NZD: The latest weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large traders of New Zealand dollar futures contracts decreased their bets last week for a second straight week. NZD contracts fell to a total of +19,044 net long contracts as of March 5th following a total of +20,297 net long contracts on February 26th.
The New Zealand dollar positions had reached their highest level in over a year on February 19th but now have fallen under the +20,000 contracts threshold for the first time in the last eight weeks.
Currency Futures Contracts Data: Non-Commercial Large Traders
March 5th: Long Positions = 23,812, Short Positions = 4,768, Net Total = +19,044
February 26th: Long Positions = 23,570, Short Positions = 3,273, Net Total = +20,297
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 Market Analysis
