The Currency Report
Large Currency Speculators cut net short positions in Canadian dollar by over 41%, latest CFTC data shows…
(Commitments of Traders Data)
The latest CFTC data indicates Large Currency Speculators cut net short positions in Canadian dollar by over 41%. 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.
The sleeper data in this report in my opinion AGAIN is the Canadian dollar, which showed net shorts declined by 41% this week, following 17% the last week, and ahead of that by 34% the week prior to that. Continuing declines in net short positions by large specs in this ‘Commodity Currency’ may be indicative of short covering/profit taking following the declines we have seen since July 2015.
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 +54k, +1.95% CD -6k, -41%
DA +23k, +30% BP -40k, 6.11%
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 stunning 41.18% decrease from 15,009 to 6,180 contracts net short of the Canadian dollar, which represents 8.73% of open interest;
A minor 6.11% increase from 37,723 to 40,028 contracts net short of the British Pound, which represents 0.92% of open interest;
A tiny 1.95% increase from 53,346 to 54,387 contracts long of the Japanese Yen, which represents 0.7% of open interest;
A paltry 3.39% decrease from 66,053 to 63,811 contracts net short of the Euro, which represents 0.68% of open interest;
A huge 30.12% increase from 18,030 to 23466 contracts long the Australian dollar, which represents 4.54% of open interest;
A miniscule 0.43% increase from 17,674 to 17,750 contracts net long of the US Dollar Index, which represents 0.43% of open interest;
For those interested in Stock Index Futures, it may be of interest that over the same period large speculators trimmed sharply their net short positions in E-Mini S&P 500 Stock Index Futures by a substantial 16.62% from 146,429 to 122,907 contracts. Feel free to contact me directly for more specific information.
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