Currency Speculators cut back on US Dollar long bets last week

By CountingPips.com


cot-values



The weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders and currency speculators decreased their bullish bets of the US dollar last week for a second consecutive week.

Non-commercial contracts by large futures traders, including hedge funds and large International Monetary Market speculators, trimmed their overall US dollar long positions to a total of $24.45 billion as of Tuesday July 30th. This was a decrease of $4.24 billion from the total long position of $28.69 billion that was registered on July 23rd, according to calculations by Reuters that determine this amount by the total of US dollar contracts against the combined contract totals of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

US dollar positions have now fallen for two straight weeks.

COT explanation: The weekly cot report summarizes the total trader positions for open contracts in the futures trading 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).

Individual Currencies Large Speculators Positions in Futures:

The large non-commercial net positions for each of the individual major currencies directly against the US dollar last week saw weekly increases for the euro, British pound sterling, Japanese yen, Swiss franc, New Zealand dollar, Canadian dollar and the Mexican peso while only the Australian dollar had a declining number of large speculator positions for the week.

Notable changes: Euro net speculative contracts improved to their best position since June while the Australian dollar net positions have fallen to the most bearish position of its recent decline.

Individual Currency Charts:


EuroFX:

eur

Last Six Weeks of Large Trader Positions: EuroFX

DateLg Trader NetChange
06/25/201317357-2673
07/02/2013-16090-33447
07/09/2013-40900-24810
07/16/2013-371653735
07/23/2013-279009265
07/30/2013-850419396



British Pound Sterling:

gbp

Last Six Weeks of Large Trader Positions: Pound Sterling

DateLg Trader NetChange
06/25/2013-19429977
07/02/2013-31324-11895
07/09/2013-34259-2935
07/16/2013-37446-3187
07/23/2013-49653-12207
07/30/2013-49463190



Japanese Yen:

jpy

Last Six Weeks of Large Trader Positions: Yen

DateLg Trader NetChange
06/25/2013-61462428
07/02/2013-70736-9274
07/09/2013-80305-9569
07/16/2013-85762-5457
07/23/2013-87496-1734
07/30/2013-821355361



Swiss Franc:

chf

Last Six Weeks of Large Trader Positions: Franc

dateLg Trader NetChange Weekly
06/25/20132464-3327
07/02/2013-116-2580
07/09/2013-1776-1660
07/16/2013-4969-3193
07/23/2013-5433-464
07/30/2013-12614172



Canadian Dollar:

cad

Last Six Weeks of Large Trader Positions: CAD

dateLg Trader NetChange Weekly
06/25/2013-1063815449
07/02/2013-16250-5612
07/09/2013-23829-7579
07/16/2013-200433786
07/23/2013-167583285
07/30/2013-114345324



Australian Dollar:

aud

Last Six Weeks of Large Trader Positions: AUD

dateLg Trader NetChange Weekly
06/25/2013-616441877
07/02/2013-70515-8871
07/09/2013-632557260
07/16/2013-70686-7431
07/23/2013-639826704
07/30/2013-72573-8591



New Zealand Dollar:

nzd

Last Six Weeks of Large Trader Positions: NZD

dateLg Trader NetChange Weekly
06/25/2013-711-2837
07/02/2013-1174-463
07/09/2013-1008166
07/16/2013-2744-1736
07/23/2013-1846898
07/30/2013-5201326



Mexican Peso:

mxn

Last Six Weeks of Large Trader Positions: MXN

dateLg Trader NetChange Weekly
06/25/20134981-15968
07/02/20132847-2134
07/09/201380355188
07/16/2013113663331
07/23/2013197998433
07/30/2013248885089

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.)

See more information and explanation on the weekly COT report from the CFTC website.

 

Article by CountingPips.com