{"id":61381,"date":"2014-10-05T13:14:24","date_gmt":"2014-10-05T17:14:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=61381"},"modified":"2014-10-05T13:17:24","modified_gmt":"2014-10-05T17:17:24","slug":"currency-speculators-bullish-positions-advanced-to-highest-level-since-june-2013","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/currency-speculators-bullish-positions-advanced-to-highest-level-since-june-2013\/","title":{"rendered":"Currency Speculators bullish positions advance for 2nd week, new high since June 2013"},"content":{"rendered":"
October 5, 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 their overall US dollar bullish bets last week for a second straight week and to the highest level since June 2013.<\/span><\/p>\n

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $37.36 billion as of Tuesday September 30th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of +$1.55 billion from the $35.81 billion total long position that was registered on September 23rd, 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 continued to strengthen with the US dollar position trading over +$30 billion for a seventh straight week and the US dollar index reached a new highest level since 2010 with a push above the 86.00 threshold. Last week’s bullish level marked the highest speculative level since June 4th 2013 when bullish positions equaled $39.12 billion.<\/span><\/p>\n

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

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

In terms of total speculative contracts, overall US dollar contracts increased for a third straight week last week to +281,204 contracts as of Tuesday September 30th. This was a change by +43,148 contracts from the total of +238,056 contracts as of Tuesday September 23rd. 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 euro, British pound sterling and the Swiss franc while decreasing weekly bets for the Japanese yen, Canadian dollar, 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