US Dollar mixed last week – Non-Farm Payrolls & Interest Rate Decisions on tap this week

US Dollar mixed last week in Forex Trading

The US dollar was mixed against the other major currencies last week after the US currency had fallen for multiple weeks against most of majors. Overall for the week, the USD advanced against the euro, the New Zealand dollar and the Australian dollar while falling to the British pound sterling, Japanese yen and the Swiss franc. The USD was virtually unchanged against the Canadian loonie dollar for the week.

 

Non-Farm Payrolls & Interest Rate Decisions on tap this week

This upcoming week has a number of major economic news on the schedule that are worth watching for.

  • Monday has the Eurozone consumer price index data due out as well as Canada’s GDP report for July.
  • Tuesday’s major economic releases are the Chinese manufacturing PMI data, Australia’s interest rate decision, Germany’s unemployment change for September and the ISM manufacturing data out of the United States.
  • Wednesday has the European Central Bank interest rate decision.
  • Thursday will feature the United States ISM non-manufacturing index.
  • Friday will have the United States non-farm payroll government employment report as well as the Bank of Japan interest rate decision and Japan’s monetary policy statement.

Please see the week’s highlighted economic events below:




This Week’s Economic Highlights:

Sunday, September 29

Japan — industrial production
Japan — retail trade
Japan — manufacturing PMI

Monday, September 30

New Zealand — nznb business confidence
Australia — securities inflation
China — manufacturing PMI
Japan’s — housing starts
euro zone — German retail sales
euro zone — consumer price index
Canada — GDP report
United States — Chicago purchasing manager
Australia — manufacturing index
Japan — jobless rate

Tuesday, October 1

China — manufacturing PMI
Australia — retail sales
Australia — interest rate decision
Switzerland — purchasing managers index
euro zone — Germany unemployment change
United Kingdom — manufacturing PMI
United States — PMI
United States — ISM manufacturing
United States — construction spending

Wednesday, October 2

Australia — new home sales
Australia — building approvals
Australia — trade balance
United Kingdom — PMI
euro zone — interest rate decision
United States — ADP employment data

Thursday, October 3

China — non-manufacturing PMI
euro zone — PMI
euro zone — retail sales
United States — weekly jobless claims
United States — ISM non-manufacturing
United States — factory orders

Friday, October 4

Japan — interest rate decision
Japan — monetary policy statement

China — services PMI
United States — nonfarm payrolls employment change
Canada — Ivey purchasing managers index

Have a Great Week !!!



Article by CountingPips.com – Forex Trading News

 

 

VIDEO: Why Judges Are Scowling At Banks

For the first time since the financial crisis, the government faced off in court against a major bank over lending practices during the mortgage mania. Lawyers for the Justice Department contend that Countrywide Financial, a unit of Bank of America, misrepresented the quality of mortgages it sold to Fannie Mae and Freddie Mac, the taxpayer-owned mortgage finance giants, starting in 2007. The government said Fannie and Freddie incurred gross losses of $850 million on the defective loans and net losses of $131 million.

Large Currency Speculators push US Dollar bullish bets to new 7 month low

By CountingPips.com


cots



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 straight week.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, cut their overall US dollar long positions to a total of $3.58 billion as of Tuesday September 24th. This was a decline of $7.22 billion from the total long position of $10.80 billion that was registered on September 17th, according to data from Reuters that calculates this amount by the total of US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

US dollar overall long positions are now at a new lowest level since February 19th when long bets were at a total of just $1.481 billion.

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 non-reportable 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, Swiss franc, Canadian dollar, Mexican peso and the New Zealand dollar while the Japanese yen and Australian dollar had a declining number of large speculator positions.

 

Individual Currency Charts:


EuroFX:

eurofx

Last Six Weeks of Large Trader Positions: EuroFX

Date Large Trader Net Positions Weekly Change
08/20/2013 36746 20689
08/27/2013 40081 3335
09/03/2013 22738 -17343
09/10/2013 12696 -10042
09/17/2013 31907 19211
09/24/2013 65844 33937



British Pound Sterling:

gbp

Last Six Weeks of Large Trader Positions: Pound Sterling

Date Lg Trader Net Weekly Change
08/20/2013 -39522 6999
08/27/2013 -38226 1296
09/03/2013 -43046 -4820
09/10/2013 -38166 4880
09/17/2013 -6310 31856
09/24/2013 1174 7484



Japanese Yen:

jpy

Last Six Weeks of Large Trader Positions: Yen

Date Lg Trader Net Weekly Change
08/20/2013 -71721 2741
08/27/2013 -78353 -6632
09/03/2013 -79761 -1408
09/10/2013 -95066 -15305
09/17/2013 -88794 6272
09/24/2013 -92818 -4024



Swiss Franc:

chf

Last Six Weeks of Large Trader Positions: Franc

Date Lg Trader Net Weekly Change
08/20/2013 291 -1845
08/27/2013 402 111
09/03/2013 1059 657
09/10/2013 420 -639
09/17/2013 616 196
09/24/2013 5745 5129



Canadian Dollar:

cad

Last Six Weeks of Large Trader Positions: CAD

Date Lg Trader Net Weekly Change
08/20/2013 -9544 -463
08/27/2013 -24959 -15415
09/03/2013 -34639 -9680
09/10/2013 -30942 3697
09/17/2013 -18764 12178
09/24/2013 -5675 13089



Australian Dollar:

Aud

Last Six Weeks of Large Trader Positions: AUD

Date Lg Trader Net Weekly Change
08/20/2013 -63183 -462
08/27/2013 -71117 -7934
09/03/2013 -71506 -389
09/10/2013 -60032 11474
09/17/2013 -27360 32672
09/24/2013 -34819 -7459



New Zealand Dollar:

nzd

Last Six Weeks of Large Trader Positions: NZD

Date Lg Trader Net Weekly Change
08/20/2013 2390 2193
08/27/2013 252 -2138
09/03/2013 -797 -1049
09/10/2013 -601 196
09/17/2013 5657 6258
09/24/2013 8055 2398



Mexican Peso:

mxn

Last Six Weeks of Large Trader Positions: MXN

Date Lg Trader Net Weekly Change
08/20/2013 36131 -189
08/27/2013 7198 -28933
09/03/2013 688 -6510
09/10/2013 8279 7591
09/17/2013 -10201 -18480
09/24/2013 14023 24224

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

 

US 10-Year Treasury Speculators trimmed bearish positions last week, Yield declines

By CountingPips.com

Weekly CFTC Net Speculator Report

10 Year Treasuries: Large trader and futures market speculators decreased their overall bearish positions last week in the 10-year treasury notes after adding to bearish positions the previous week. The 10-year treasury non-commercial contracts totaled a net position of -89,107 contracts in the data reported for September 24th. This was a change of +36,919 contracts from the previous week’s total of -126,026 net contracts that was registered on September 17th.

In the same time-frame, the yield on the 10 Year treasury note declined from 2.86 on Tuesday September 17th to 2.67 on Tuesday September 24th, according to US Treasury data.




10YEar


Last 6 Weeks of Large Trader Positions

Date Net Large Specs Weekly Change 10 Year Yield
08/20/2013 -24840 41592 2.82
08/27/2013 -110825 -85985 2.72
09/03/2013 -103094 7731 2.86
09/10/2013 -85324 17770 2.96
09/17/2013 -126026 -40702 2.86
09/24/2013 -89107 36919 2.67



*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).




Article by CountingPips.comCurrency Trading News

 

VIDEO: Dell Benefits From Hot U.S. Leveraged Loan Market

Dell is the latest company to benefit from the red-hot U.S. leveraged loan market as strong investor demand allowed the computer giant to cut funding costs on the $10.6 billion financing package backing its $25 billion buyout. Although the multibillion loan and bond financing was essentially a difficult turnaround story as CEO Michael Dell and private equity firm Silver Lake Partners took the firm private, the books were strong for the loans and bonds.

VIDEO: J.C. Penney Says To Raise Up To $932 Million In Stock Sale

Struggling department store operator J.C. Penney expects to raise up to $932 million from a share sale, leaving it with about $2.2 billion in cash at the end of the year. J.C. Penney, whose shares have been hit by concerns that it does not have enough cash to fund its operations going into the holiday season, said it would sell 84 million shares in a public offering at $9.65 per share. Penney’s shares were down 7 percent at $9.69 before the bell. The share sale would increase Penney’s shares outstanding by 38 percent.