Tag Archives: Commitment of Traders

Speculators in the futures market were not particularly active in Commitment of Traders reporting week ending April 5.  There was only one gross position adjustment which we regard as significant (defined as a 10k contract change), and that was in the yen.   Yen bulls extended their gross long position by 13.3k contract to new record of 98.1k contracts.   However, the bears are beginning to get itchy and have sold into the yen gains for the second consecutive week.  The gross short yen...

The most extreme speculative positioning, judging from the futures market is the long yen position.  The bulls added another 3.4k contracts, lifting the gross long position to 82.8k contracts.  The record was set in 2008 at 94.7k contracts.   The gross short position was trimmed by 4.5k contracts, leaving 29.5k.  It is the smallest gross short position since before Abe was elected in Prime Minister in 2012.  The net long yen speculative position rose to 53.3k contracts.  The record was...

After a relatively quiet period into the run-up to the ECB, speculative activity markedly increased in the CFTC reporting week ending the day prior to the conclusion of the FOMC meeting. Two speculative gross currency position adjustments stand out.  First, speculators appeared to have bought a record amount of sterling contracts.  The gross long position more than doubled; increasing 33.5k contracts to 62.9k.   Despite the continued recovery of sterling in the spot market, the bears...

The Commitment of Traders reporting period ending March 8 showed little position adjusting ahead of the ECB meeting two days later.  A little more than 3/4 of the gross positions we track saw less than 5k contract change and only two were above 6k.   The gross long speculative sterling position was cut by a quarter or 9.6k contracts to 29.4k.  Speculators also built a larger gross long Australian dollar position, adding 9.7k contracts to 86.1k. The conventional focus on net positions does...

The position adjustment among speculators in the currency futures market were minor in the reporting week that ended February 23.  There was only one gross adjustment we regard as significant (more than 10k contracts).  The Mexican officials sprung a bear trap and forced speculators to cover.  There were 15.8k gross short peso in speculative hands that were bought back, leaving 83k contracts still short.   Despite the minor adjustments elsewhere, two patterns were clear.  First,...

The position adjustment among speculators in the currency futures market were minor in the reporting week that ended February 23.  There was only one gross adjustment we regard as significant (more than 10k contracts).  The Mexican officials sprung a bear trap and forced speculators to cover.  There were 15.8k gross short peso in speculative hands that were bought back, leaving 83k contracts still short.   Despite the minor adjustments elsewhere, two patterns were clear.  First,...

The CFTC Commitment of Traders reporting week ending February 16 was short due to the US holiday.  This may have contributed to the small adjustments to speculative positioning in the currency futures.  It also may reflect the lack of conviction that a dollar recovery was at hand.   On a net basis, speculators had switched to a long yen position six weeks ago.  In the latest period, speculators swung to a net long Australian dollar position for the first time since last May.  The 2.8k...

The CFTC Commitment of Traders reporting week ending February 16 was short due to the US holiday.  This may have contributed to the small adjustments to speculative positioning in the currency futures.  It also may reflect the lack of conviction that a dollar recovery was at hand.   On a net basis, speculators had switched to a long yen position six weeks ago.  In the latest period, speculators swung to a net long Australian dollar position for the first time since last May.  The 2.8k...

There are two broad developments in speculative positioning in the Commitment of Traders report in the week ending February 9.  First, the market turbulence saw speculators reduce exposure.  Of the 16 gross positions we track, 11 were reducing positions by liquidating longs or covering shorts. Second, there were an unusual amount of significant gross position adjustments, by which we mean a change of 10k contracts of more in a gross position. There were six such adjustments, and they...

There are two broad developments in speculative positioning in the Commitment of Traders report in the week ending February 9.  First, the market turbulence saw speculators reduce exposure.  Of the 16 gross positions we track, 11 were reducing positions by liquidating longs or covering shorts. Second, there were an unusual amount of significant gross position adjustments, by which we mean a change of 10k contracts of more in a gross position. There were six such adjustments, and they...