Large Currency Speculators sharply reduced Canadian dollar bearish positions in latest COT data

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 sharply reduced their Canadian dollar bearish positions last week while large specs trimmed their euro positions that had reached their highest level since October the previous week.

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, increased their bets for the Canadian dollar, British pound sterling, Australian dollar and the New Zealand dollar last week, according to the data through March 25th. Meanwhile, there was weekly declines for the euro, Japanese yen, Swiss franc and the Mexican peso net positions.

Canadian dollar large speculator positions were the biggest movers on the week with a change of +36,590 contracts to bring the overall net positions to -33,215 contracts. Net bearish CAD positions had marked their highest level on March 18th since a total of -70,327 positions were registered on January 21st. The weekly CAD data saw long positions rise by +12,690 contracts while the short positions declined by -23,900 contracts for a net change of +36,590 on the week.

Euro large speculator positions dipped last week to a net total of +39,634 contracts after rising to approximately a 5-month high of +52,991 contracts the previous week. The data showed that long euro positions fell by -10,905 contracts while short positions rose by +2,452 contracts for a net change of -13,357 for euro contracts 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. Please see charts and data below.




Charts: Large Speculators Weekly Positions vs Currency Spot Price

EuroFX:

eurofx

Last Six Weeks data for EuroFX futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 262179 106914 67280 39634 -13357



British Pound Sterling:

gbp

Last Six Weeks data for Pound Sterling futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 202115 66751 37027 29724 4188



Japanese Yen:

jpy

Last Six Weeks data for Yen Futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 158280 17600 86487 -68887 -7788



Swiss Franc:

chf

Last Six Weeks data for Franc futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 47353 25037 10218 14819 -297



Canadian Dollar:

cad

Last Six Weeks data for Canadian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 133246 40441 73656 -33215 36590



Australian Dollar:

aud

Last Six Weeks data for Australian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 84232 24387 44914 -20527 3936



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
02/18/2014 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
03/25/2014 32748 26243 8030 18213 2462



Mexican Peso:

mxn

Last Six Weeks data for Mexican Peso futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
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
03/25/2014 115858 22769 24423 -1654 -384



*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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