{"id":59937,"date":"2014-09-06T16:49:13","date_gmt":"2014-09-06T20:49:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=59937"},"modified":"2014-09-06T16:49:13","modified_gmt":"2014-09-06T20:49:13","slug":"fx-speculators-raised-us-dollar-bets-higher-for-3rd-week-highest-since-june-2013","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/fx-speculators-raised-us-dollar-bets-higher-for-3rd-week-highest-since-june-2013\/","title":{"rendered":"FX Speculators raised US Dollar bets higher for 3rd week, highest since June 2013"},"content":{"rendered":"
September 6, 2014<\/div>
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By CountingPips.com<\/strong><\/p>\n

\"cot-values\"<\/a><\/p>\n

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 forex speculators increased US dollar bullish bets last week for a third straight week and to a new highest level since the middle of 2013.<\/span><\/p>\n

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $35.88 billion as of Tuesday September 2nd, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of +$2.96 billion from the $32.92 billion total long position that was registered on August 26th, according to the Reuters calculation that totals the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.<\/span><\/p>\n

The aggregate US dollar bullish position has risen for three consecutive weeks and for six out of the last seven weeks. The gain in the US dollar bullish position marks a new highest level since June 4th 2013 when speculators were long by $39.12 billion.<\/span><\/p>\n

Overall Speculative Net Contracts<\/span><\/strong><\/p>\n

\"us-total-contracts\"<\/a><\/p>\n

In terms of total speculative contracts, overall US dollar contracts advanced last week to +174,876 contracts as of Tuesday September 2nd. This was a change by +19,868 contracts from the total of +155,008 contracts as of Tuesday August 26th. This total US dollar contracts calculation takes into account more currencies than the Reuters dollar amount total and is derived by adding the sum of each individual currencies net position versus the dollar. Currency contracts used in the calculation are the euro, British pound, Japanese yen, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar and the Mexican peso.<\/span><\/p>

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Major Currency Weekly Levels & Changes:<\/strong><\/span><\/p>\n

\"cot-standings\"<\/a><\/p>\n

Overall changes on the week for the major currencies showed that large speculators raised their bets last week in favor of the Canadian dollar, Australian dollar and the Mexican peso while decreasing weekly bets for the euro, Japanese yen, British pound sterling, Swiss franc and the New Zealand dollar. <\/span><\/p>\n

Notable changes on the week for the Major Currencies:<\/strong><\/span><\/p>\n