Large Currency Speculators boosted Euro bets last week to highest level since October

By CountingPips.com

cot-standings

The latest data for the weekly Commitments of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and speculators boosted their euro positions last week to the highest level in almost five months while increasing bets for the other major currencies as well.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, placed bets in favor of the European common currency, Swiss franc, British pound sterling, Japanese yen, Australian dollar, New Zealand dollar and the Mexican peso last week, according to the data through March 18th.

There was a decline for just the Canadian dollar net positions on the week. 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.

Euro large speculator positions rose to a net total of +52,991 contracts through March 18th from a total of +36,385 on March 11th. This marks the highest level of euro positions since October 29th, 2013 when net euro positions stood at +70,617 contracts. The biggest mover of the week was the Japanese yen which saw a weekly change of +38,257 contracts that brought the bearish overall net position down to -61,099 on March 18th from -99,356 on March 11th.

Please see charts and data below.




Charts: Large Speculators Weekly Positions vs Currency Spot Price

EuroFX:

eurfx

Last Six Weeks data for EuroFX futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 281037 75048 81977 -6929 6681
02/18/2014 291360 88634 80035 8599 15528
02/25/2014 296924 93003 79103 13900 5301
03/04/2014 304308 103868 80416 23452 9552
03/11/2014 322020 110103 73718 36385 12933
03/18/2014 264443 117819 64828 52991 16606



British Pound Sterling:

gbp

Last Six Weeks data for Pound Sterling futures

Date Open Interest Long Specs Short Specs Large Specs Net Lg Specs Weekly Change
02/11/2014 204982 53199 42527 10672 -279
02/18/2014 241471 76271 53948 22323 11651
02/25/2014 257037 74558 45756 28802 6479
03/04/2014 254013 71021 41416 29605 803
03/11/2014 250867 64553 42554 21999 -7606
03/18/2014 208961 64141 38605 25536 3537



Japanese Yen:

jpy

Last Six Weeks data for Yen Futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 196435 13686 92472 -78786 -1957
02/18/2014 200057 16736 96520 -79784 -998
02/25/2014 203743 14727 99817 -85090 -5306
03/04/2014 205886 20407 100116 -79709 5381
03/11/2014 242170 15726 115082 -99356 -19647
03/18/2014 156922 24144 85243 -61099 38257



Swiss Franc:

chf

Last Six Weeks data for Franc futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 42433 12166 11611 555 -1665
02/18/2014 51003 14188 17016 -2828 -3383
02/25/2014 55157 19396 19038 358 3186
03/04/2014 60532 21818 19650 2168 1810
03/11/2014 66889 23097 14140 8957 6789
03/18/2014 49391 25311 10195 15116 6159



Canadian Dollar:

cad

Last Six Weeks data for Canadian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 157495 27745 86673 -58928 1372
02/18/2014 154862 27756 92756 -65000 -6072
02/25/2014 141519 24865 83456 -58591 6409
03/04/2014 147033 23306 84402 -61096 -2505
03/11/2014 153639 25180 77371 -52191 8905
03/18/2014 186782 27751 97556 -69805 -17614



Australian Dollar:

aud

Last Six Weeks data for Australian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 110523 10202 57605 -47403 8120
02/18/2014 103049 9439 53837 -44398 3005
02/25/2014 98643 10299 49290 -38991 5407
03/04/2014 105792 12262 53370 -41108 -2117
03/11/2014 122241 8627 49477 -40850 258
03/18/2014 81737 21577 46040 -24463 16387



New Zealand Dollar:

nzd

Last Six Weeks data for New Zealand dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 19085 13176 5535 7641 -391
02/18/2014 21516 15331 6425 8906 1265
02/25/2014 22142 16529 5547 10982 2076
03/04/2014 25616 19346 5914 13432 2450
03/11/2014 31905 21155 6706 14449 1017
03/18/2014 31463 24645 8894 15751 1302



Mexican Peso:

mxn

Last Six Weeks data for Mexican Peso futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
02/11/2014 127225 9682 43622 -33940 575
02/18/2014 131097 8094 31406 -23312 10628
02/25/2014 128542 9971 31540 -21569 1743
03/04/2014 126885 8230 28980 -20750 819
03/11/2014 166949 12739 20986 -8247 12503
03/18/2014 111057 19320 20590 -1270 6977



*COT Report: The weekly commitment of traders 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).

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.




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