Large Speculators turn Bullish on US Dollar Bets in Forex Futures data
Currencies / Forex Trading Nov 10, 2013 - 11:43 AM GMTBy: CountingPips
The latest data for the weekly Commitments of Traders (COT) report was released on Friday by the Commodity Futures Trading Commission (CFTC) and showed that large futures speculators turned bullish on the US dollar last week after four straight weeks of bearish positions.
Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, had an overall US dollar long position totaling $7.02 billion as of Tuesday November 5th. This was a weekly change of $10.17 billion from the total position of $-3.146 billion that was registered on October 29th, according to data from Reuters that calculates this amount by the total of US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
US dollar positions, on November 5th, were at their most bullish level since September 17th when US dollar bets were long at a total of $10.8 billion.
Individual Currencies Large Speculators Positions in Futures:
The large non-commercial net positions for each of the individual major currencies directly against the US dollar on November 5th showed weekly increases for just the Mexican peso while there were declines for the euro, British pound sterling, Japanese yen, Swiss franc, Canadian dollar, Australian dollar and the New Zealand dollar.
Individual Currency Charts:
EuroFX:
Last Six Weeks of Large Trader Positions: EuroFX
| Date | Large Trader Net Positions | Weekly Change |
| 10/01/2013 | 68276 | 2432 |
| 10/08/2013 | 68683 | 407 |
| 10/15/2013 | 60374 | -8309 |
| 10/22/2013 | 72434 | 12060 |
| 10/29/2013 | 70617 | -1817 |
| 11/05/2013 | 33143 | -37474 |
British Pound Sterling:
Last Six Weeks of Large Trader Positions: Pound Sterling
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | 1496 | 322 |
| 10/08/2013 | 8771 | 7275 |
| 10/15/2013 | 12231 | 3460 |
| 10/22/2013 | 14262 | 2031 |
| 10/29/2013 | 10162 | -4100 |
| 11/05/2013 | -2392 | -12554 |
Japanese Yen:
Last Six Weeks of Large Trader Positions: Yen
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | -82324 | 10494 |
| 10/08/2013 | -57097 | 25227 |
| 10/15/2013 | -59266 | -2169 |
| 10/22/2013 | -71802 | -12536 |
| 10/29/2013 | -62395 | 9407 |
| 11/05/2013 | -73792 | -11397 |
Swiss Franc:
Last Six Weeks of Large Trader Positions: Franc
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | 6636 | 891 |
| 10/08/2013 | 10415 | 3779 |
| 10/15/2013 | 10767 | 352 |
| 10/22/2013 | 10931 | 164 |
| 10/29/2013 | 11451 | 520 |
| 11/05/2013 | 8095 | -3356 |
Canadian Dollar:
Last Six Weeks of Large Trader Positions: CAD
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | -955 | 4720 |
| 10/08/2013 | -8663 | -7708 |
| 10/15/2013 | -10814 | -2151 |
| 10/22/2013 | -5364 | 5450 |
| 10/29/2013 | -15237 | -9873 |
| 11/05/2013 | -18002 | -2765 |
Australian Dollar:
Last Six Weeks of Large Trader Positions: AUD
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | -28804 | 6015 |
| 10/08/2013 | -26404 | 2400 |
| 10/15/2013 | -32237 | -5833 |
| 10/22/2013 | -22111 | 10126 |
| 10/29/2013 | -23198 | -1087 |
| 11/05/2013 | -25067 | -1869 |
New Zealand Dollar:
Last Six Weeks of Large Trader Positions: NZD
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | 10891 | 2836 |
| 10/08/2013 | 10766 | -125 |
| 10/15/2013 | 12668 | 1902 |
| 10/22/2013 | 13114 | 446 |
| 10/29/2013 | 10625 | -2489 |
| 11/05/2013 | 9708 | -917 |
Mexican Peso:
Last Six Weeks of Large Trader Positions: MXN
| Date | Lg Trader Net | Weekly Change |
| 10/01/2013 | 14601 | 578 |
| 10/08/2013 | 10933 | -3668 |
| 10/15/2013 | 7761 | -3172 |
| 10/22/2013 | 7214 | -547 |
| 10/29/2013 | 4896 | -2318 |
| 11/05/2013 | 5180 | 284 |
*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.
Article by CountingPips.com
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