{"id":69905,"date":"2015-03-21T16:08:01","date_gmt":"2015-03-21T20:08:01","guid":{"rendered":"http:\/\/countingpips.com\/?p=69905"},"modified":"2015-03-21T16:08:01","modified_gmt":"2015-03-21T20:08:01","slug":"currency-speculators-sharply-reduced-us-dollar-bullish-bets-last-week-franc-turns-bullish","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/currency-speculators-sharply-reduced-us-dollar-bullish-bets-last-week-franc-turns-bullish\/","title":{"rendered":"Currency Speculators sharply reduced US Dollar bullish bets last week, Franc turns bullish"},"content":{"rendered":"
March 21, 2015<\/div>
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By CountingPips.com<\/strong><\/span><\/p>\n

USD net speculator positions fall to lowest level in four months, Swiss franc turns bullish
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\"cot-usd-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 currency speculators cut their net bullish positions for the US dollar last week to the lowest level since December.<\/span><\/p>\n

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $38.59 billion as of Tuesday March 17th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly change of -$5.72 billion from the $44.31 billion total long position that was registered on March 10th, 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 latest data brings the US dollar speculative level to its lowest standing since December 16th 2014 when the total bullish position was $34.64 billion and breaks a string of eleven straight weeks of the dollar bullish position above $40 billion. <\/span><\/p>\n

The Swiss franc broke through and became the first currency in many months to have a bullish speculator position against the dollar with a slightly bullish position of +2,235 contracts.<\/span><\/p>\n

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Overall Speculative Net US Dollar Contracts<\/strong><\/span><\/p>

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

In terms of total net speculative contracts, overall US dollar contracts dropped last week to a total of +396,153 contracts as of Tuesday March 17th. This was a weekly change of -39,286 contracts from the total of +435,439 contracts as of Tuesday March 10th. 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>\n

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Major Currency Weekly Levels & Changes: Swiss franc turns slightly bullish vs USD
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\"cot-standings\"<\/a><\/p>\n

Weekly changes for the major currencies showed that large speculators increased their bets in favor of the Japanese yen, Swiss franc, Canadian dollar, Australian dollar and the New Zealand dollar on the week while decreasing weekly bets for the euro, British pound sterling and the Mexican Peso.
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Notable Changes:<\/span><\/strong><\/p>\n