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 reduced their bullish bets for the US dollar last week following seven consecutive weekly gains.
Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $20.87 billion as of Tuesday November 15th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of $-1.49 billion from the $22.36 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 aggregate US dollar speculative level is above the $20 billion threshold for a third straight week for the first time since early January 2016.
Weekly Speculator Contract Changes:
The major currencies that improved against the US dollar last week were the euro (+10,132 weekly change in contracts), British pound sterling (+9,532 contracts), Swiss franc (+1,097 contracts), Canadian dollar (+2,713 contracts) and the Australian dollar (+410 contracts).
The currencies whose speculative bets declined last week versus the dollar were the Japanese yen (-11,280 contracts), New Zealand dollar (-462 contracts) and the Mexican peso (-12,157 contracts).
Table of EURUSD Weekly Commercial Traders (Comms) and Speculators (Specs) Levels & Changes: