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 slightly decreased 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 $24.44 billion as of Tuesday January 17th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly decline of $-0.51 billion from the $24.95 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).
Despite falling for two straight weeks, the US dollar aggregate speculative level remains above the +$20 billion level for a twelfth straight week.
Weekly Speculator Contract Changes:
The individual major currencies that improved versus the US dollar last week were the Japanese yen (2,009 weekly change in contracts), Swiss franc (563 contracts), Canadian dollar (2,479 contracts), Australian dollar (8,693 contracts) and the New Zealand dollar (1,672 contracts).
The currencies whose speculative bets declined last week against the dollar were the euro (-677 weekly change in contracts), British pound sterling (-411 contracts) and the Mexican peso (-1,545 contracts).