{"id":60995,"date":"2014-09-27T14:20:16","date_gmt":"2014-09-27T18:20:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=60995"},"modified":"2014-09-27T14:20:16","modified_gmt":"2014-09-27T18:20:16","slug":"large-currency-speculators-pushed-their-bullish-positions-higher-last-week","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/large-currency-speculators-pushed-their-bullish-positions-higher-last-week\/","title":{"rendered":"Large Currency Speculators pushed their bullish positions higher last week"},"content":{"rendered":"
September 27, 2014<\/div>
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By CountingPips.com<\/strong><\/p>\n

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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 added to their overall US dollar bullish bets last week after two weeks of decreases.<\/span><\/p>\n

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $35.81 billion as of Tuesday September 23rd, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of +$4.39 billion from the $31.42 billion total long position that was registered on September 16th, 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 position remains strongly bullish with the US dollar position trading over +$30 billion for six straight weeks and being at the second highest level since June of 2013. The US dollar index, meanwhile, continued its uptrend to trade over the 85.00 threshold later in the week.<\/span><\/p>\n

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

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In terms of total speculative contracts, overall US dollar contracts rose sharply last week to +238,056 contracts as of Tuesday September 23rd. This was a change by +52,598 contracts from the total of +185,458 contracts as of Tuesday September 16th. 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

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

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