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Forex Speculators Dropped US Dollar Bets To 9-Month Low

By Zachary StorellaForexJun 18, 2017 04:44AM ET
www.investing.com/analysis/forex-speculators-dropped-us-dollar-bets-to-9-month-low-200195825
Forex Speculators Dropped US Dollar Bets To 9-Month Low
By Zachary Storella   |  Jun 18, 2017 04:44AM ET
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US Dollar COT Large Speculators Sentiment Vs UUP ETF
US Dollar COT Large Speculators Sentiment Vs UUP ETF

US dollar net speculator positions fell to $6.48 billion last week

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators reduced their bullish bets for the US dollar last week to the lowest point in over nine months.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $6.48 billion as of Tuesday June 13th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly decrease of $-1.52 billion from the $8.00 billion total long position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).

The aggregate speculator positions have fallen four out of the past five weeks and have now declined to the lowest level since August 30th 2016 when bets equaled $5.29 billion.

The last time the aggregate dollar position fell into negative territory was May 17th 2016 with a $-4.19 billion position.

Weekly Change In US Dollar
Weekly Change In US Dollar

Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar last week were the euro (5,044 weekly change in contracts), Japanese yen (4,474 contracts), Swiss franc (2,095 contracts), Canadian dollar (5,906 contracts), New Zealand dollar (3,380 contracts) and the Mexican peso (10,993 contracts).

The currencies whose speculative bets declined last week versus the dollar were the British pound sterling (-2,725 weekly change in contracts) and the Australian dollar (-1,397 contracts).

Table of Weekly Commercial Traders
Table of Weekly Commercial Traders

Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

Euro COT Futures Large Traders Vs EUR/USD
Euro COT Futures Large Traders Vs EUR/USD

British Pound Sterling:

British COT Futures Large Traders Vs GBP/USD
British COT Futures Large Traders Vs GBP/USD

Japanese Yen:

Yen COT Futures Large Traders Vs JPY/USD
Yen COT Futures Large Traders Vs JPY/USD

Swiss Franc:

Swiss Franc COT Futures Large Traders Vs CHF/USD
Swiss Franc COT Futures Large Traders Vs CHF/USD

Canadian Dollar:

Canadian COT Futures Large Traders Vs CAD/USD
Canadian COT Futures Large Traders Vs CAD/USD

Australian Dollar:

Australian COT Futures Large Traders Vs AUD/USD
Australian COT Futures Large Traders Vs AUD/USD

New Zealand Dollar:

New Zealand Dollar COT Futures Large Traders Vs NZD/USD
New Zealand Dollar COT Futures Large Traders Vs NZD/USD

Mexican Peso:

Mexican COT Futures Large Traders Vs MXN/USD
Mexican COT Futures Large Traders Vs MXN/USD

*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 charts overlay the forex 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.

Forex Speculators Dropped US Dollar Bets To 9-Month Low
 
Forex Speculators Dropped US Dollar Bets To 9-Month Low

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