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US Dollar Index Speculator Positions
Large currency speculators edged their bearish net positions slightly higher 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 -3,075 contracts in the data reported through Tuesday December 1st. This was a weekly decrease of -321 contracts from the previous week which had a total of -2,754 net contracts.
This week’s net position was the result of the gross bullish position (longs) gaining by 4,061 contracts (to a weekly total of 23,708 contracts) but being more than offset by the gross bearish position (shorts) which rose by 4,382 contracts on the week (to a total of 26,783 contracts).
The US Dollar Index speculators raised their bearish bets for a second straight week and for the third time in the past four weeks this week. The Dollar Index spec position has now been in bearish territory for four straight weeks after rising to a small bullish position on November 3rd. Overall, the Dollar position has now been in a bearish standing for twenty-three out of the past twenty-five weeks, dating back to early June when the streak of 109 consecutive weeks of dollar bullish positions ended.
Individual Currencies Data this week:
In all of the individual contracts data, the major currencies that saw improving speculator positions this week were the euro (1,644 weekly change in contracts), British pound sterling (9,231 contracts), Japanese yen (7,261 contracts), New Zealand dollar (746 contracts) and the Mexican peso (5,246 contracts).
The currencies whose speculative bets declined this week were the US dollar index (-321 weekly change in contracts), Swiss franc (-335 contracts), Canadian dollar (-4,397 contracts) and the Australian dollar (-5,523 contracts).
Chart: Current Strength of Each Currency compared to their 3-Year Range
Please see the data table and individual currency charts below.
Table of Large Speculator Levels & Weekly Changes:
|Currency||Net Speculator Position||Specs Weekly Change|
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
British Pound Sterling:
New Zealand Dollar:
Article By CountingPips.com – Receive 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).