Eurodollar Speculators dropped their bullish bets for 2nd week after 200-week high

September 23, 2019

September 23rd – By CountingPips.comReceive our weekly COT Reports by Email

Eurodollar Non-Commercial Speculator Positions:

Large bond speculators decreased their bullish net positions in the Eurodollar futures markets last week after ascending to a multi-year high level, 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 Eurodollar futures, traded by large speculators and hedge funds, totaled a net position of 1,890,849 contracts in the data reported through Tuesday September 17th. This was a weekly reduction of -370,345 net contracts from the previous week which had a total of 2,261,194 net contracts.

The week’s net position was the result of the gross bullish position (longs) dropping by -761,648 contracts (to a weekly total of 2,645,460 contracts) while the gross bearish position (shorts) fell by a lesser amount of -391,303 contracts for the week (to a total of 754,611 contracts).


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Eurodollar speculators cut back on their bullish bets for the second straight week and by a total of -440,580 contracts over these past couple weeks. The speculative Eurodollar position has been consistently trending higher after turning from overall bearish to bullish on April 16th. The net position reached a 201-week high (dating back to October 2015) on September 3rd before turning lower on September 10th and 17th.

Eurodollar Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -1,719,047 contracts on the week. This was a weekly gain of 388,451 contracts from the total net of -2,107,498 contracts reported the previous week.

ED Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $98.38 which was a decline of $-0.07 from the previous close of $98.45, 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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