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The weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders sharply extended their total bullish bets of the US dollar again last week. Total US dollar long positions have risen for three consecutive weeks and are now at the highest level since 2008 when Reuters started calculating total amount of positions, according to Reuters.<\/p>\n
Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, increased their overall US dollar long positions to a total of $41.0 billion as of Tuesday May 21st. This was a rise from the total long position of $32.27 billion registered on May 14th, according to position calculations by Reuters that derives this total by the amount of US dollar positions against the combined positions of euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.<\/p>\n
See the full COT report & charts here\u2026<\/strong><\/a><\/span><\/p>\n The US dollar\u2019s strength cooled off a bit in the forex markets last week after two straight weeks of gains. The dollar continued its rise against the Australian dollar, British pound sterling and the Canadian dollar while falling against the euro, Japanese yen and the Swiss franc. The New Zealand dollar was virtually unchanged against the USD.<\/p>\n Looking ahead to the upcoming week, we have a shortened week as we start with a Monday holiday in both the US and the UK.<\/p>\n See the full Technical Currency Pairs post and charts here\u2026<\/strong><\/a><\/span><\/p>\n <\/p>\n Monday, May 27th<\/strong><\/p>\n USA Holiday<\/p>\n UK Holiday<\/p>\n Tuesday, May 28th<\/strong><\/p>\n United States \u2014 consumer confidence Wednesday, May 29<\/strong><\/p>\n Japan \u2014 BOJ speech Thursday, May 30<\/strong><\/p>\n United States \u2014 GDP first quarter Friday, May 31<\/strong><\/p>\n China \u2014 manufacturing PMI
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\nTechnical Outlook: US Dollar strength slowed last week<\/h2>\n
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\nNext Week\u2019s Economic Events Highlights:<\/strong><\/h3>\n
\neuro zone \u2014 German retail sales
\nChina \u2014 leading index
\nSwitzerland \u2014 trade balance<\/p>\n
\neuro zone \u2014 German employment data
\neuro zone \u2014 German consumer price index
\nCanada \u2014 Bank of Canada interest rate decision<\/p>\n
\nUnited States \u2014 personal consumption
\nUnited States \u2014 weekly jobless claims
\nUnited States \u2014 pending home sales
\nJapan \u2014 national consumer price index
\nSwitzerland \u2014 GDP report<\/p>\n
\neuro zone \u2014 consumer price index
\nCanada \u2014 GDP report
\nUnited States \u2014 personal consumption expenditure
\nUnited States \u2014 University of Michigan confidence survey<\/p>\n