Friendly Sunday Users;
The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators continued to increase their bullish bets for the US dollar last week for a fifth consecutive week.
Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $18.81 billion as of Tuesday October 25th, according to the latest data from the CFTC and dollar amount calculations by Reuters.
This was a weekly change of $0.37 billion from the $18.44 billion total long position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).
The speculative dollar position remained above the +$10 billion dollar threshold for a fourth straight week and climbed to its highest level since January.
Weekly Speculator Contract Changes:
The major currencies that improved against the US dollar last week were the Japanese yen (7,604 weekly change in contracts), British pound sterling (7,596 contracts), Mexican peso (5,376 contracts), Australian dollar (1,943 contracts) and the Canadian dollar (974 contracts).
The currencies whose speculative bets declined last week versus the dollar were the euro (-14,588 weekly change in contracts), Swiss franc (-2,323 contracts) and the New Zealand dollar (-267 contracts).