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US Dollar Index Non-Commercial Speculator Positions:
Large speculators cut back on their net positions in the US Dollar Index futures markets this week for a third straight week and pushed bets into short territory, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of -2,505 contracts in the data reported through Tuesday July 25th. This was a weekly lowering of -4,557 contracts from the previous week which had a total of 2,052 net contracts.
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US dollar index net positions have now fallen for six out of the past seven weeks and are now in an overall short or negative territory for the first time since June 10th 2014 when net positions totaled -38 contracts.
US Dollar Index Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -2,800 contracts on the week. This was a weekly uptick of 4,211 contracts from the total net of -7,011 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the UUP ETF, which tracks the price of US Dollar Index, closed at approximately $24.37 which was a decrease of $-0.12 from the previous close of $24.49, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com – Weekly COT Report