The Currency Report

Large Currency Speculators increased bets net short British Pound and Euro, while adding to net long US dollar positions, the latest CFTC data shows…

BP Chart

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2016 08 02 BP

(Commitments of Traders Data)

Large Currency Speculators increased bets net short British Pound and Euro, while adding to net long US dollar positions, the latest CFTC data shows…

The latest CFTC data (released Friday July 29th) shows Large Specs had increased bets net short British Pound by over 8%, net short Euro bets by over 12% and net longs in the US dollar by over 54%.  Such has been the trend in general since BREXIT, large specs becoming longer of the dollar and more short in British Pound Sterling and Euro.

Significant percent change moves highlight one of the main goals of this report; which is to keep an eye on what large speculators have been doing over the longer term with their positions, with the assumption that large speculators are positioning in the direction of the longer term trend.

Due to the delayed dissemination of this information, this information should in no way be considered in any way as a trade recommendation or advice.

Highlighted Currency, net position and % change

Net Longs                                            Net Shorts

DX +22k, +54%                                 EU -112k, +12%

                                                                BP -80k, +8%

The most recent Commitments of Traders data shows some significant percentage changes in non-commercial futures only net positions from the prior week including the following:

An important 13.09% decrease from 22,068 to 19,180 contracts net long of the Canadian dollar, which represents 2.45% of open interest;

A building 8.32% increase from 74,386 to 80,572 contracts net short of the British Pound, which represents 2.67% of open interest;

A minor 11.17% decrease from 39,353 to 34,958 contracts long of the Japanese Yen, which represents 2.75% of open interest;

A key 12.72% increase from 99,891 to 112,600 contracts net short of the Euro, which represents 3.18% of open interest;

A small 5.75% decrease from 33,431 to 31,510 contracts short of the Australian dollar, which represents 2.01% of open interest;

A half again 54.75% increase from 14,526 to 22,479 contracts long of the US Dollar Index, which represents 12.6% of open interest;


For those interested in Stock Index Futures, over the same period large speculators added 10.84% to net longs from 146,232 to 162,082 contracts, representing 0.53% of open interest.

For more information on FuturePath Trading, LLC, PhotonTrader and other trading software demos as well as our Futures and Forex Brokerage services email or call 312.987.2080.

Good Trading,

Paul Kavanaugh

There is a substantial risk of loss in trading futures and options. Futures, options and foreign exchange trading are not appropriate for all investors.  Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities.  FuturePath Trading, LLC, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Paul Kavanaugh

About Paul Kavanaugh

Paul Kavanaugh has been active in the commodity markets as an NFA member for 24 years. He specializes in working with clients by providing innovative personalized value-added services. His guidance with regards to risk management has attracted large commercial hedgers. His 2 1/2 decades of experience in navigating commodity bull and bear markets and extremes in volatility, while maintaining an even keel temperament, has made him an appreciated right hand man to select CTAs and professional traders. Paul’s early apprenticeship with one of the more renowned pioneers of systems development and seasonal work landed him position as Senior Analyst for one of the world’s largest clearing firms at the time. His published currency analysis achieved a remarkably broad following. He then branched out to supporting traders through brokerage services, often 24 hours round the clock. Paul has been happy to share his knowledge with new clients. His warm-hearted enthusiasm for both the markets and people provides an old school blend missing in today’s hard and fast world of electronic trading. At the same time, his current affiliation with the long established Independent Brokerage Firm, FuturePath Trading, LLC, allows him to offer clients the resources of multiple Clearing firms and execution platforms. Paul received his degree in Economics from Albion College in Michigan. He has been a frequent contributor to CBS, CNBC, and the WSJ over the years.