Good Monday All;
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 for a second consecutive week.
Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $22.45 billion as of Tuesday December 20th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of $-5.56 billion from the $28.01 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).
Speculator positions, despite the second weekly fall, remain above the $20 billion threshold for an eighth consecutive week
Weekly Speculator Contract Changes:
The major currencies that improved against the US dollar last week were the Swiss franc (32,398 weekly change in contracts), Canadian dollar (10,115 contracts), euro (9,468 contracts) and the British pound sterling (12,993 contracts).
The currencies whose speculative bets declined last week versus the dollar were the Japanese yen (-12,020 weekly change in contracts), Australian dollar (-9,532 contracts), New Zealand dollar (-3,251 contracts) and the Mexican peso (-9,022 contracts).