The latest Commitments of Traders (COT) report, also released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures speculators diminished their overall US dollar long rankings a week for the very first time in three weeks as dealers boosted positions at the Australian dollar, Japanese yen and Mexican peso.
Non-commercial large stocks traders, such as hedge funds and large speculators, cut on their overall US dollar long rankings to $20.44 billion on July 24th in a whole long position of $26.31 billion on July 17th, as stated by the CFTC COT data and calculations from Reuters which computes that the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
EuroFX: Currency Speculator sentiment for the euro rebounded last week after falling for the previous two consecutive weeks. Euro net short positions or bets against the currency fell to 155,066 contracts on July 24th in the previous week’s total of 167,249 web short contracts on July 17th.
The COT report is printed every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures ranks as of the prior Tuesday. It can be a helpful tool for traders to gauge investor sentiment and to search for possible changes in the direction of a currency or commodity.
Each money contract is a quotation for This currency directly contrary to the U.S. dollar, a net short number of contracts implies more speculators are betting that currency to fall against the dollar and a long position anticipate that currency to rise versus the dollar.
GBP: British lb Sterling positions enhanced for a second consecutive week last week even though the currency remains bearish on the negative side against the US Dollar. British pound sterling speculative positions totaled 2,934 web short contracts July 24th after a total of 7,453 web short contracts on July 17th.
Insecure contracts rose by over double and obtained for a third successive week each week. Yen positions totaled higher to a total of 25,061 internet long contracts reported July 24th after a full of 11,121 net long contracts on July 17th. Japanese positions have now continued to be more favorable about the flip side to get an eight consecutive week and are at the highest level since February.
CHF: Swiss franc Speculator positions declined a week for a 2nd consecutive week and fell to its lowest level since June 12th. Speculator positions for the Swiss currency futures registered a total of 25,945 internet short contracts on July 24th following a total of 23,090 internet short contracts as of July 17th. Franc contracts would be the lowest level since falling to a whole of 33,301 brief contracts on June 12th.
CAD: Canadian dollar Positions declined lower for a fourth week in a row and are in their lowest level since January. Canadian dollar places dipped into a total of 2,432 web short contracts as of July 24th after having a total of 1,208 web short contracts which were reported for July 17th. That is the lowest level for Canadian dollar rankings since January 30th when large speculators contracts equaled 19,409 brief positions.
Dollar positions rose sharply higher a week after declining previous week. Aussie insecure futures positions progressed to a total net number of 26,443 lengthy contracts on July 24th after registering a total of 13,931 net long contracts as of July 17th. The progress in Aussie contracts attracts positions for their highest level since May 1st when contracts equaled 52,280.
NZD: New Zealand Dollar futures speculator positions increased to get a seventh consecutive week and are at the highest level as the beginning of May. NZD contracts increased to a total of 7,779 internet long contracts as of July 24th following a complete of 6,939 net long contracts on July 17th. The kiwi contracts are at their highest level since May 1st when contracts equaled 8,025 long positions.
Speculative contracts surged higher for a seventh straight week and obtained more ground after crossing into positive territory on July 3rd. Peso positions climbed to a total of 49,662 net long speculative positions as of July 24th following a total of 34,989 long contracts which were reported to July 17th. Mexican peso places have reached their highest level since the start of April.
Big Speculators Net Positions vs. the US Dollar