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Large Forex Speculators cut back on US Dollar bullish bets for a 3rd week

Saturday, February 28, 2015 9:09
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(Before It's News)

By CountingPips.com

cot-values

US Dollar speculator positions decline for 3rd week to $40.81 billion

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 decreased their net bullish positions for the US dollar last week for a third straight week and to the lowest level since late December 2014.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $40.81 billion as of Tuesday February 24th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of -$1.23 billion from the $42.04 billion total long position that was registered on February 17th, according to the Reuters calculation that totals the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

The latest data brings the US dollar speculative level to its lowest standing since December 23rd when the total bullish position was $39.85 billion. The USD position, despite the fall, is still above the +$40 billion mark for a ninth straight and continues to remain in an overall net bullish position against all the other major currencies.

Overall Speculative Net US Dollar Contracts

cot-contracts

In terms of total net speculative contracts, overall US dollar contracts declined for a third week last week to a total of +404,276 contracts as of Tuesday February 24th. This was a small change of -3,110 contracts from the total of +407,386 contracts as of Tuesday February 17th. This total US dollar contracts calculation takes into account more currencies than the Reuters dollar amount total and is derived by adding the sum of each individual currencies net position versus the dollar. Currency contracts used in the calculation are the euro, British pound, Japanese yen, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar and the Mexican peso.

Major Currency Weekly Levels & Changes: One Sided – All currencies continue to remain net bearish versus the USD

cot-standings

Weekly changes for the major currencies showed that large speculators raised their bets in favor of the euro, British pound sterling, Japanese yen, Swiss franc and the New Zealand dollar while decreasing weekly bets for the Canadian dollar, Australian dollar and the Mexican Peso.

This latest COT data is through Tuesday February 24th and shows a quick view of how large speculators and for-profit traders (non-commercials) 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.

Please see the individual currency charts and their respective data points below.




Weekly 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
01/20/2015 450262 52047 232777 -180730 -12879
01/27/2015 449726 50489 235234 -184745 -4015
02/03/2015 457209 47719 244028 -196309 -11564
02/10/2015 444139 47217 241858 -194641 1668
02/17/2015 438411 47175 232757 -185582 9059
02/24/2015 431217 45511 223247 -177736 7846



British Pound Sterling:

gbp

Last Six Weeks data for Pound Sterling futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 182860 35319 81027 -45708 -8568
01/27/2015 185350 38649 83989 -45340 368
02/03/2015 182903 36220 78618 -42398 2942
02/10/2015 175966 36798 75401 -38603 3795
02/17/2015 170627 42999 71797 -28798 9805
02/24/2015 169784 46741 68611 -21870 6928



Japanese Yen:

jpy

Last Six Weeks data for Yen Futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 215413 26525 104411 -77886 16739
01/27/2015 202571 26526 91184 -64658 13228
02/03/2015 203963 25586 85157 -59571 5087
02/10/2015 204193 25884 81008 -55124 4447
02/17/2015 203555 31269 80360 -49091 6033
02/24/2015 202438 31611 79123 -47512 1579



Swiss Franc:

chf

Last Six Weeks data for Franc futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 47236 8226 18035 -9809 16635
01/27/2015 42956 8841 16214 -7373 2436
02/03/2015 38421 8383 13733 -5350 2023
02/10/2015 34459 5771 11257 -5486 -136
02/17/2015 34204 4740 10784 -6044 -558
02/24/2015 34765 5228 10313 -5085 959



Canadian Dollar:

cad

Last Six Weeks data for Canadian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 111631 24238 53318 -29080 -7901
01/27/2015 112718 28914 52877 -23963 5117
02/03/2015 113662 24553 51874 -27321 -3358
02/10/2015 115744 21176 54509 -33333 -6012
02/17/2015 111614 19998 52840 -32842 491
02/24/2015 118014 22423 58668 -36245 -3403



Australian Dollar:

aud

Last Six Weeks data for Australian dollar futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 110904 9828 56408 -46580 -1215
01/27/2015 125620 16079 65022 -48943 -2363
02/03/2015 133075 15969 72128 -56159 -7216
02/10/2015 125359 12517 65699 -53182 2977
02/17/2015 131722 17230 71061 -53831 -649
02/24/2015 139805 15597 78751 -63154 -9323



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
01/20/2015 22818 10941 12758 -1817 -41
01/27/2015 25594 11908 15567 -3659 -1842
02/03/2015 25687 10537 15034 -4497 -838
02/10/2015 26593 9272 15472 -6200 -1703
02/17/2015 27700 10021 15774 -5753 447
02/24/2015 27328 11107 15437 -4330 1423



Mexican Peso:

mxn

Last Six Weeks data for Mexican Peso futures

Date Open Interest Long Specs Short Specs Large Specs Net Weekly Change
01/20/2015 148671 19017 65280 -46263 8032
01/27/2015 153115 26739 71312 -44573 1690
02/03/2015 161412 23599 71836 -48237 -3664
02/10/2015 174861 25691 74926 -49235 -998
02/17/2015 175704 28873 74318 -45445 3790
02/24/2015 180506 34105 82449 -48344 -2899



*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.

All information contained in this article cannot be guaranteed to be accurate and is used at your own risk. All information and opinions on this website are for general informational purposes only and do not in any way constitute investment advice.




Article by CountingPips.comForex Apps & News



Source: http://countingpips.com/2015/02/large-forex-speculators-cut-back-on-us-dollar-bullish-bets-for-a-3rd-week/

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