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Large Currency Speculators increased bets net short British Pound ahead of BREXIT, latest CFTC data shows…

The Currency Report

Large Currency Speculators increased bets net short British Pound ahead of BREXIT, latest CFTC data shows…

 

BP Chart

2016 06 28 BP

(Commitments of Traders Data)

Large Currency Speculators increased bets net short British Pound ahead of BREXIT, latest CFTC data shows…

The latest CFTC data (released Friday June 24th) shows Large Specs had increased bets net short British Pound by over 25% ahead of last week’s historic vote.  Also important to note is that over the same period Large Specs nearly doubled net long US dollar positions.

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 +9k, +99%                                     EU -61, +8%

JY +52k, -6%                                       BP -46k, -26%

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 huge 85.93% decrease from 18,440 to 2,595 contracts net long of the Canadian dollar, which represents 13.41% of open interest;

A prophetic 26.97% increase from 36,661 to 46,547 contracts net short of the British Pound, which represents 4.96% of open interest;

A holding 6.09% decrease from 55,690 to 52,296 contracts long of the Japanese Yen, which represents 12.35% of open interest;

A building 8.60 % increase from 56,489 to 61,346 contracts net short of the Euro, which represents 1.53% of open interest;

A minor 3.91% increase from 6,778 to 7043 contracts short of the Australian dollar, which represents 0.34% of open interest;

A nearly doubling 99.96% increase from long 4,692 to long 9,372 contracts of the US Dollar Index, which represents 9.24% of open interest;

(Source: www.CFTC.gov)

For those interested in Stock Index Futures, over the same period large speculators trimmed net longs from 118,195 to 54,820 contracts, 53.62% representing 2.28% 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 paul@fptrading.net or call 312.987.2080.

Good Trading,

Paul Kavanaugh

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Linda WCA 2016

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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.

The Currency Report

The Currency Report  

Large Currency Speculators added to net longs in Canadian dollar, latest CFTC data shows…

2016 05 16 CD

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Linda Raschke Leader-Follower Program-Q&A Session 

 

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 (Commitments of Traders Data)

The latest CFTC data indicates Large Currency Speculators trimmed net short Euro bets by just 7.4%, while adding to US dollar longs by over 36%.  Will we see a reversal to net long Euro and net short US dollar in next week’s report? We will wait and see, but my suggestion is it will occur sooner rather than later.  Note the key 2015 high (1.1718 EUR/USD) on the weekly Euro chart above may be tested as this occurs.  It is also important to note as well the recent reversal to net long Canadian dollar has held, and that new position grew again this week (by 36%) following last week’s 57% rise.

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.  Consider the potential implications for higher commodity prices if large speculators position for a lower US dollar and are correct…(discussion to be continued in next week’s Currency Report).

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

CD +25k, +36%                  EU -21k, -7.4%

DX +12k, +32%

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 most important 36% increase from 18,943 to 25,874 contracts net long of the Canadian dollar, which represents 5.56% of open interest;

A trimming 13.54% decrease from 40,408 to 34,935 contracts net short of the British Pound, which represents 2.29% of open interest;

A small 3.88% decrease from 61,521 to 59,137 contracts long of the Japanese Yen, which represents 1.44% of open interest;

An important 7.40% decrease from 23,619 to 21,872 contracts net short of the Euro, which represents 0.51% of open interest;

A sharp 27.17% decline from 52,395 to 38,158 contracts long the Australian dollar, which represents 11.23% of open interest;

A stubborn 32.08% increase from 9,174 to 12,117 contracts net long of the US Dollar Index, which represents 4.34% of open interest;

(Source: www.CFTC.gov)

For those interested in Stock Index Futures, it may be of interest that over the same period large speculators increased new recent net long positions in E-Mini S&P 500 Stock Index Futures by 95.06% from 10,087 to 19,676 contracts (net long).  Note the similarity of recent short covering and reversal to long in S&P to recent Canadian dollar activity.  Feel free to contact me directly for more specific information.

For more information on FuturePath Trading, LLC, PhotonTrader and other trading software demos as well as our Futures and Forex Brokerage services email paul@fptrading.net 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.