Archive for CountingPips Forex Blog – Page 4

Silver Speculators sharply reduced their bullish bets

November 16th – By CountingPips.comReceive our weekly COT Reports by Email

Silver Non-Commercial Speculator Positions:

Large precious metals speculators lowered their bullish net positions in the Silver 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 37,364 contracts in the data reported through Tuesday November 12th. This was a weekly change of -10,633 net contracts from the previous week which had a total of 47,997 net contracts.

The week’s net position was the result of the gross bullish position (longs) lowering by -7,847 contracts (to a weekly total of 89,327 contracts) while the gross bearish position (shorts) rose by 2,786 contracts for the week (to a total of 51,963 contracts).

Speculators dropped their bullish bets for a second straight week and positions have now declined by a total of -16,314 contracts over that period. This week’s setback for silver positions was the largest one-week decline in a little over three months and brings the overall bullish standing to the lowest level of the past eighteen weeks. Silver bets had stayed above the +40,000 net contract level for twelve straight weeks before this week’s pullback.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -61,892 contracts on the week. This was a weekly increase of 13,090 contracts from the total net of -74,982 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1669.20 which was a drop of $-87.60 from the previous close of $1756.80, 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.comReceive our weekly COT Reports by Email

Copper Speculators added to their bearish bets for 1st time in 5 weeks

November 16th – By CountingPips.comReceive our weekly COT Reports by Email

Copper Non-Commercial Speculator Positions:

Large precious metals speculators raised their bearish net positions in the Copper 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 Copper futures, traded by large speculators and hedge funds, totaled a net position of -26,287 contracts in the data reported through Tuesday November 12th. This was a weekly change of -2,976 net contracts from the previous week which had a total of -23,311 net contracts.

The week’s net position was the result of the gross bullish position (longs) sinking by -8,349 contracts (to a weekly total of 73,303 contracts) while the gross bearish position (shorts) fell by a lesser amount of -5,373 contracts for the week (to a total of 99,590 contracts).

Copper speculators increased their bearish bets following four straight weeks of declining bearish positions that had brought the overall position from a total of -48,093 contracts on October 8th to -23,311 contracts last week. The current bearish position remains right around the -25,000 net contract level for a third straight week. This is less than half the total of where it was in early September when positions hit a record bearish level at -58,841 contracts.

Copper Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 21,287 contracts on the week. This was a weekly uptick of 1,038 contracts from the total net of 20,249 contracts reported the previous week.

Copper Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month) closed at approximately $264.55 which was a drop of $-5.50 from the previous close of $270.05, 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.comReceive our weekly COT Reports by Email

US Dollar Index Speculators cut bullish bets for 5th week. AUD, CAD & MXN bets jump

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

US Dollar Index Speculator Positions

Large currency speculators continued to reduce their bullish 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 28,379 contracts in the data reported through Tuesday November 5th. This was a weekly lowering of -1,130 contracts from the previous week which had a total of 29,509 net contracts.

This week’s net position was the result of the gross bullish position (longs) dropping by -2,200 contracts (to a weekly total of 34,983 contracts) compared to the gross bearish position (shorts) which fell by a lesser amount of -1,070 contracts on the week (to a total of 6,604 contracts).

USD Index speculative positions fell again for a fifth straight week and have now declined by -14,649 contracts over that time-frame. The current bullish position is at the lowest level in sixteen weeks, dating back to July 16th. Despite the recent bearishness, the dollar bullish standing has now remained above the +20,000 net contract level for sixty-eight straight weeks.


Individual Currencies Data this week: AUD, CAD & MXN bets gain sharply

In the other major currency contracts data, we saw three substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Canadian dollar bullish bets jumped sharply this week. CAD bets have risen by at least +10,000 contracts in each of the past three weeks and overall, have gained in the past four straight weeks. The current bullish standing (+54,002 contracts) for the CAD is now at the highest level in one hundred and five weeks, dating back to November of 2017.

Australian dollar positions improved for a third straight week as bearish bets fell by more than 13,000 contracts this week. The recent improvements have brought the AUD bearish position down to the least bearish level (-26,794 net contracts) in forty-four weeks, dating back to December 31st of 2018.

Mexican peso positions rose strongly again this week and have risen by at least +11,000 contracts for the second straight week. The current overall standing for Mexican peso positions is now at the most bullish spot in twenty-three weeks at over +140,000 net contracts. The all-time record bullish high was reached earlier this year in April with a total of +156,030 contracts.

Overall, the major currencies that saw improving speculator positions this week were the British pound sterling (3,380 weekly change in contracts), Canadian dollar (10,413 contracts), Australian dollar (13,493 contracts), New Zealand dollar (1,438 contracts) and the Mexican peso (11,495 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-1,130 weekly change in contracts), euro (-7,391 contracts), Japanese yen (-6,907 contracts) and the Swiss franc (-1,669 contracts).


Chart: Current Strength of Each Currency compared to their 3-Year Range

See the table and individual currency charts below.


Table of Large Speculator Levels & Weekly Changes:

Currency Net Speculator Position Specs Weekly Change
USD Index 28,379 -1,130
EuroFx -60,746 -7,391
GBP -29,035 3,380
JPY -26,605 -6,907
CHF -14,153 -1,669
CAD 54,002 10,413
AUD -26,794 13,493
NZD -38,965 1,438
MXN 140,402 11,495

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 


Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

The Euro large speculator standing this week reached a net position of -60,746 contracts in the data reported through Tuesday. This was a weekly decrease of -7,391 contracts from the previous week which had a total of -53,355 net contracts.


British Pound Sterling:

The large British pound sterling speculator level came in at a net position of -29,035 contracts in the data reported this week. This was a weekly rise of 3,380 contracts from the previous week which had a total of -32,415 net contracts.


Japanese Yen:

Large Japanese yen speculators came in at a net position of -26,605 contracts in this week’s data. This was a weekly reduction of -6,907 contracts from the previous week which had a total of -19,698 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week equaled a net position of -14,153 contracts in the data through Tuesday. This was a weekly decline of -1,669 contracts from the previous week which had a total of -12,484 net contracts.


Canadian Dollar:

Canadian dollar speculators resulted in a net position of 54,002 contracts this week. This was a boost of 10,413 contracts from the previous week which had a total of 43,589 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures was a net position of -26,794 contracts this week in the data ending Tuesday. This was a weekly advance of 13,493 contracts from the previous week which had a total of -40,287 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing recorded a net position of -38,965 contracts this week in the latest COT data. This was a weekly advance of 1,438 contracts from the previous week which had a total of -40,403 net contracts.


Mexican Peso:

Mexican peso speculators reached a net position of 140,402 contracts this week. This was a weekly gain of 11,495 contracts from the previous week which had a total of 128,907 net contracts.


Article By CountingPips.comReceive our weekly COT Reports by Email

*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) 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).

WTI Crude Oil Speculators upped their bullish bets for 4th week

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators raised their bullish net positions in the WTI Crude Oil 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 WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 406,140 contracts in the data reported through Tuesday November 5th. This was a weekly change of 22,793 net contracts from the previous week which had a total of 383,347 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 12,784 contracts (to a weekly total of 565,026 contracts) while the gross bearish position (shorts) dropped by -10,009 contracts for the week (to a total of 158,886 contracts).

Crude oil speculative positions gained for a fourth straight week and have now risen by +51,055 contracts over that four week period. The current bullish level is now back over the +400,000 net contract threshold for the first time in six weeks. Overall, the crude position has remained in bullish territory for a total of 548 weeks, dating back to May 5th of 2009.

WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -405,946 contracts on the week. This was a weekly shortfall of -21,769 contracts from the total net of -384,177 contracts reported the previous week.

WTI Crude Oil Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $57.23 which was an increase of $1.69 from the previous close of $55.54, 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.comReceive our weekly COT Reports by Email

10-Year Note Speculators strongly added to their bearish bets for a 2nd week

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators sharply increased their bearish net positions in the 10-Year Note 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 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -231,456 contracts in the data reported through Tuesday November 5th. This was a weekly change of -115,390 net contracts from the previous week which had a total of -116,066 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -62,945 contracts (to a weekly total of 653,270 contracts) in addition to the gross bearish position (shorts) rising by 52,445 contracts for the week (to a total of 884,726 contracts).

10-Year speculators raised their bearish bets for a second straight week and by largest one-week amount (-115,390 contracts) in over a year, dating back to September of 2018. This recent bearishness pushes the overall position to the most bearish level in eight weeks with contracts back over the -200,000 net contract standing.

10-Year Note Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 240,121 contracts on the week. This was a weekly boost of 114,893 contracts from the total net of 125,228 contracts reported the previous week.

10-Year Note Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $128.92 which was a fall of $-0.35 from the previous close of $129.28, 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.comReceive our weekly COT Reports by Email

Gold Speculators raised their bullish bets for 3rd straight week

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

Gold Non-Commercial Speculator Positions:

Large precious metals speculators once again lifted their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 279,828 contracts in the data reported through Tuesday November 5th. This was a weekly change of 3,313 net contracts from the previous week which had a total of 276,515 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 9,168 contracts (to a weekly total of 344,591 contracts) while the gross bearish position (shorts) gained by a lesser amount of 5,855 contracts for the week (to a total of 64,763 contracts).

Gold speculators slightly boosted their bullish positions this week, pushing bets higher for a third straight week and for the fourth time out of the past five weeks. The gold position remains at the higher end of its bullish range as bets have continued to be higher than at least +250,000 net contracts for sixteen straight weeks.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -317,138 contracts on the week. This was a weekly decrease of -15,922 contracts from the total net of -301,216 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1483.70 which was a decrease of $-7.0 from the previous close of $1490.70, 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.comReceive our weekly COT Reports by Email

 

VIX Speculators boosted their record bearish positions even further

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators sharply raised their bearish net positions higher in the VIX 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -203,598 contracts in the data reported through Tuesday November 5th. This was a weekly change of -15,650 net contracts from the previous week which had a total of -187,948 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 3,932 contracts (to a weekly total of 84,775 contracts) while the gross bearish position (shorts) jumped by 19,582 contracts for the week (to a total of 288,373 contracts).

VIX speculators boosted their bearish bets for a fourth consecutive week and for the ninth time in the past ten weeks. Speculators have added a total of -64,918 contracts to the net position in just the past four weeks and by a total of -146,445 contracts in the past ten weeks. This continued bearishness has pushed bearish bets to a new record high level for a second straight week and it is the first time in history that bearish positions have been above the -200,000 net contract level.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 213,539 contracts on the week. This was a weekly advance of 13,796 contracts from the total net of 199,743 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $15.02 which was a drop of $-0.45 from the previous close of $15.47, 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.comReceive our weekly COT Reports by Email

Silver Speculators trim bullish bets for 1st time in 3 weeks

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

Silver Non-Commercial Speculator Positions:

Large precious metals speculators lowered their bullish net positions in the Silver 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 47,997 contracts in the data reported through Tuesday November 5th. This was a weekly decline of -5,681 net contracts from the previous week which had a total of 53,678 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 1,806 contracts (to a weekly total of 97,174 contracts) but being more than offset by the gross bearish position (shorts) that rose by a greater amount of 7,487 contracts for the week (to a total of 49,177 contracts).

Silver speculators cut back on their bullish positions following two weeks of gains that had put the bullish level back over the +50,000 contract threshold. The silver position continues to remain strongly bullish with long contracts staying above the +40,000 net level for the past twelve weeks. Overall, the silver position has been in a bullish position for twenty-two consecutive weeks since June 11th.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -74,982 contracts on the week. This was a weekly loss of -6,937 contracts from the total net of -68,045 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1756.80 which was a decline of $-26.30 from the previous close of $1783.10, 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.comReceive our weekly COT Reports by Email

Copper Speculators continued to pare their bearish bets for 4th week

November 9th – By CountingPips.comReceive our weekly COT Reports by Email

Copper Non-Commercial Speculator Positions:

Large precious metals speculators once again cut back on their bearish net positions in the Copper 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 Copper futures, traded by large speculators and hedge funds, totaled a net position of -23,311 contracts in the data reported through Tuesday November 5th. This was a weekly change of 1,914 net contracts from the previous week which had a total of -25,225 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 4,838 contracts (to a weekly total of 81,652 contracts) while the gross bearish position (shorts) rose by a lesser amount of 2,924 contracts for the week (to a total of 104,963 contracts).

Copper speculators continued to reduce their bearish bets for the fourth straight week and now by a total of 24,782 contracts over these past four weeks. The current bearish position (-23,311 contracts) is now less than half of the recent record high bearish position that was recorded on September 3rd at a total of -58,841 contracts.

Copper Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 20,249 contracts on the week. This was a weekly decline of -3,845 contracts from the total net of 24,094 contracts reported the previous week.

Copper Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month) closed at approximately $270.05 which was an uptick of $0.90 from the previous close of $269.15, 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.comReceive our weekly COT Reports by Email

US Dollar Index Speculative bets dip to 10-week low. CAD, MXN & GBP bets bounce

November 2nd – By CountingPips.comReceive our weekly COT Reports by Email

US Dollar Index Speculator Positions

Large currency speculators continued to cut back on their bullish 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 29,509 contracts in the data reported through Tuesday October 29th. This was a weekly decrease of -1,701 contracts from the previous week which had a total of 31,210 net contracts.

This week’s net position was the result of the gross bullish position (longs) tumbling by -3,650 contracts (to a weekly total of 37,183 contracts) compared to the gross bearish position (shorts) which fell by a lesser amount of -1,949 contracts on the week (to a total of 7,674 contracts).

US Dollar Index speculators dropped their bullish bets for a fourth consecutive week and pushed the overall bullish position to the lowest level in ten weeks, dating back to August 27th. Previously, the USD speculative position had risen to a 127-week high on October 1st before this recent cool off. The current level of bullish bets is just below the 2019 average position of +30,726 net contracts.


Individual Currencies Data this week:

In the other major currency contracts data, we saw three substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Mexican peso speculators sharply boosted their bullish bets this week by over +15,000 contracts (over a 14 percent gain) following three straight weeks of lower positions. This rise pushed the current bullish standing (+128,907 contracts) for the peso to the most bullish level in 22 weeks, dating back to late May. Peso positions marked a bullish record high earlier this year with a total of +156,030 contracts on April 16th.

Canadian dollar speculators raised their bullish bets for a third consecutive week and by a total of +38,276 contracts over this three-week period. The gains puts the current bullish standing at the highest level in ninety-seven weeks, dating back to December of 2017. The CAD position has now been in bullish territory for eighteen straight weeks after flipping from bearish to bullish on July 2nd.

British pound sterling speculators sharply pared their bearish bets by over 20,000 contracts in each of the past two weeks. Overall, the GBP position has now improved for seven straight weeks dating back to September 17th and by a total of 59,818 contracts in those past seven weeks. The pound sterling, now with a hard Brexit not currently on the schedule, has improved to the least bearish level in 22 weeks, dating back to May 28th.

Overall, the major currencies that saw improving speculator positions this week were the British pound sterling (20,025 weekly change in contracts), Canadian dollar (10,196 contracts), Australian dollar (3,699 contracts) and the Mexican peso (15,957 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-1,701 weekly change in contracts), euro (-2,305 contracts), Japanese yen (-1,533 contracts), Swiss franc (-1,149 contracts) and the New Zealand dollar (-261 contracts).


Chart: Current Strength of Each Currency compared to their 3-Year Range

See the table and individual currency charts below.


Table of Large Speculator Levels & Weekly Changes:

Currency Net Speculator Position Specs Weekly Change
USD Index 29,509 -1,701
EuroFx -53,355 -2,305
GBP -32,415 20,025
JPY -19,698 -1,533
CHF -12,484 -1,149
CAD 43,589 10,196
AUD -40,287 3,699
NZD -40,403 -261
MXN 128,907 15,957

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 


Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

The Euro large speculator standing this week resulted in a net position of -53,355 contracts in the data reported through Tuesday. This was a weekly lowering of -2,305 contracts from the previous week which had a total of -51,050 net contracts.


British Pound Sterling:

The large British pound sterling speculator level recorded a net position of -32,415 contracts in the data reported this week. This was a weekly rise of 20,025 contracts from the previous week which had a total of -52,440 net contracts.


Japanese Yen:

Large Japanese yen speculators totaled a net position of -19,698 contracts in this week’s data. This was a weekly decrease of -1,533 contracts from the previous week which had a total of -18,165 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week was a net position of -12,484 contracts in the data through Tuesday. This was a weekly decline of -1,149 contracts from the previous week which had a total of -11,335 net contracts.


Canadian Dollar:

Canadian dollar speculators reached a net position of 43,589 contracts this week. This was a advance of 10,196 contracts from the previous week which had a total of 33,393 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures recorded a net position of -40,287 contracts this week in the data ending Tuesday. This was a weekly lift of 3,699 contracts from the previous week which had a total of -43,986 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing equaled a net position of -40,403 contracts this week in the latest COT data. This was a weekly reduction of -261 contracts from the previous week which had a total of -40,142 net contracts.


Mexican Peso:

Mexican peso speculators resulted in a net position of 128,907 contracts this week. This was a weekly gain of 15,957 contracts from the previous week which had a total of 112,950 net contracts.


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*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) 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).