US Dollar Index Speculators trimmed their bearish net positions

April 7, 2018

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US Dollar Index Non-Commercial Speculator Positions:

Large currency speculators cut back on their bearish net positions in the US Dollar Index futures markets this week, 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 -1,185 contracts in the data reported through Tuesday April 3rd. This was a weekly advance of 575 contracts from the previous week which had a total of -1,760 net contracts.

Speculative positions had seen increasing bearishness in the previous two weeks before this week’s slight rebound. The overall dollar index position is now in bearish territory for a third consecutive week.


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US Dollar Index Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -2,458 contracts on the week. This was a weekly decline of -1,363 contracts from the total net of -1,095 contracts reported the previous week.

UUP:

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 $23.64 which was an increase of $0.22 from the previous close of $23.42, 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).

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