{"id":60299,"date":"2014-09-13T18:51:26","date_gmt":"2014-09-13T22:51:26","guid":{"rendered":"http:\/\/countingpips.com\/?p=60299"},"modified":"2014-09-13T18:51:26","modified_gmt":"2014-09-13T22:51:26","slug":"large-currency-speculators-decreased-bullish-positions-for-1st-time-in-4-weeks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/large-currency-speculators-decreased-bullish-positions-for-1st-time-in-4-weeks\/","title":{"rendered":"Large Currency Speculators decreased bullish positions for 1st time in 4 weeks"},"content":{"rendered":"
September 13, 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 pulled back on their overall US dollar bullish bets last week after three straight weeks of rises that brought bullish levels to the highest level since the middle of 2013.<\/p>\n

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $31.63 billion as of Tuesday September 9th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of -$4.25 billion from the $35.88 billion total long position that was registered on September 2nd, 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.<\/p>\n

The aggregate US dollar bullish position had gained for three consecutive weeks and for six out of the previous seven weeks before last week’s retreat in positions. The US dollar index, meanwhile, reached the highest level since July 2013 when it crossed over the 84.00 threshold this week.<\/span><\/p>\n

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

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

In terms of total speculative contracts, overall US dollar contracts also retreated last week to +144,377 contracts as of Tuesday September 9th. This was a change by -30,499 contracts from the total of +174,876 contracts as of Tuesday September 2nd. 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-weekly-standing\"<\/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 euro, British pound sterling, Japanese yen and the Canadian dollar while decreasing weekly bets for the Swiss franc, Australian dollar, New Zealand dollar and the Mexican peso.<\/span><\/p>\n

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