{"id":41097,"date":"2014-05-18T14:15:00","date_gmt":"2014-05-18T18:15:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=41097"},"modified":"2022-09-20T14:26:26","modified_gmt":"2022-09-20T14:26:26","slug":"currency-speculators-turned-bullish-us-dollar-bets-euro-drops-bearish-side","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2014\/05\/18\/currency-speculators-turned-bullish-us-dollar-bets-euro-drops-bearish-side\/","title":{"rendered":"Currency Speculators turned bullish on US Dollar bets, Euro drops to the bearish side"},"content":{"rendered":"

By CountingPips.com<\/strong><\/p>\n

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

The latest data for the weekly Commitments of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and speculators turned around their bets to become bullish on the US dollar last week. The previous four weeks had seen speculators and traders on the bearish side.<\/p>\n

Non-commercial large futures traders, including hedge funds and large International Monetary Market speculators, had an overall US dollar long position totaling $4.51 billion as of Tuesday May 13th, according to the latest data from the CFTC and calculations by Reuters. This was a weekly change of +$6.54 billion from the -$2.03 billion total short position that was registered on May 6th, according to Reuters 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 US dollar aggregate bullish position is the highest USD level since March 11th when total bullish contracts equaled +$10.56 billion. The bullish gain of $6.54 billion was the largest weekly increase since November 12th 2013 when positions jumped by $7.44 billion for the week.<\/p>\n

Overall for the week against the other major currencies, speculators bet in favor the Canadian dollar, Australian dollar and the Mexican peso last week while there were weekly declines for the euro, British pound sterling, Japanese yen, Swiss franc and the New Zealand dollar.<\/p>\n

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

Notable changes:<\/strong><\/span><\/p>\n