The Currency Report
Large Currency Speculators cut short Euro bets significantly, latest CFTC data shows…
(Commitments of Traders Data)
Large Currency Speculators trimmed net short Euro bets (by over 23% for the third week in a row) , while again adding to net longs in Yen. Trimming of bets short Euro may be indicative of profit taking by large speculators following significant declines since mid-2015, see chart on this page. It should be highlighted that this weeks’ net short Euro position is just over one third of its reading three weeks ago…
These 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 they large speculators are positioning in the direction of the longer term trend. That being said, in general that direction appears to be moving further away from remaining net short Euro.
Due to the delayed dissemination of this information, it 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 +47k, +10% EC -48k, -23%
CD -48k, -23%
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 trimming 13.19% decrease from 51,935 to 45,085 contracts net short of the Canadian dollar, which represents 4.32% of open interest;
A 39.94% decrease from 7,268 to 4,366 contracts net short of the Swiss Franc, which represents 5.98% of open interest;
A minor 0.12% decrease from 36,300 to 36,255 contracts net short of the British Pound, which represents 0.02% of open interest;
A significant 10.8% increase from 43,232 to 47,901 contracts long of the Japanese Yen, which represents 1.88% of open interest;
A game changing 23.86% decrease from 63,314 to 48,205 contracts net short of the Euro, which represents 3.51% of open interest;
A trimming 50.11% decrease from 5,626 to 2,807 contracts net short of the Australian Dollar, which represents 2.53% of open interest;
A slimming 10.48% decrease from 35,013 to 31,342 contracts net long of the US Dollar Index, which represents 5.21% of open interest;
For those interested in Stock Index Futures, it may be of interest that over the same period large speculators cut their net short positions in E-Mini S&P 500 Stock Index Futures by 32.23% from 234,321 to 158,805 contracts. Feel free to contact me directly for more specific information.
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