Large Currency Speculators significantly reduced net short positions in British Pound and Canadian dollar, latest CFTC data shows…
(Commitments of Traders Data)
The latest CFTC data shows large Currency Speculators significantly reduced net short positions in British Pound and Canadian dollar. 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.
Given the magnitude of the reductions in net short position size in these two currencies; it could be further indication of profit taking by large speculators. 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
JY +45k, -30% CD -16k, -34%
DA +17k, -33% BP -13k, -72%
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:
A sharp 34.73% decrease from 25,781 to 16,826 contracts net short of the Canadian dollar, which represents 5.29% of open interest;
A statistically overstated 4,179.07% reversal to long 5262 contracts from short just 129 contracts of the Swiss Franc, which represents 13.39% of open interest;
A striking 72.21% decrease from 49,005 to 13,619 contracts net short of the British Pound, which represents 13.98% of open interest;
A trimming 30.85% decrease from 64,333 to 45,489 contracts long of the Japanese Yen, which represents 14.17% of open interest;
A minor 7.70% increase from 72,007 to 77,555 contracts net short of the Euro, which represents 1.72% of open interest;
A significant 43.78% decrease from 29,195 to 16,413 contracts long the Australian dollar, which represents 12.78% of open interest;
A large 33.62% decrease from 26,378 to 17,511 contracts net long of the US Dollar Index, which represents 17.85% of open interest;
For those interested in Stock Index Futures, it may be of interest that over the same period large speculators increased (basically maintained) their net short positions in E-Mini S&P 500 Stock Index Futures by 0.14% from 205,655 to 205,945 contracts. Feel free to contact me directly for more specific information.
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