August 18, 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Eurodollar Non-Commercial Speculator Positions:
Large interest rate speculators continued to decrease their bearish net positions in the Eurodollar futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Eurodollar futures, traded by large speculators and hedge funds, totaled a net position of -2,906,782 contracts in the data reported through Tuesday August 14th. This was a weekly lift of 179,002 contracts from the previous week which had a total of -3,085,784 net contracts.
The speculative positioning has seen bearish contracts decline for five consecutive weeks and for eight out of the past ten weeks. The overall net speculator position remains strongly bearish but has now fallen below the -3,000,000 net contract level for the first time since June 26th.
Eurodollar Commercial Positions:
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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 3,550,266 contracts on the week. This was a weekly decrease of -229,773 contracts from the total net of 3,780,039 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $97.01 which was a rise of $0.07 from the previous close of $96.94, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email
