COT Report – EUR Net Short – Speculators Increased Dollar Longs
Data from the Washington-based Commodity Futures Trading Commission (CFTC) reveals that futures traders at the CME (Chicago Mercantile Exchange) were net short the euro (EUR FX) for the first time in around seven weeks, on the week ending February 26th. This covers the key large speculator group comprised of hedge funds and other major institutions.
The net short position came in at 9,394 contracts versus the prior net- long position of 19,103 contracts. This is the largest net short position since mid-February, as specs shifted from $3.2 billion EUR long to $1.5 billion net EUR short.
By way of contrast , traders had significantly increased wagers favouring the greenback, bringing the USD net long position to the highest level seen in around seven months. The US dollar long position was running at $14.39 billion as of Tuesday, Feb 26th.
The EURUSD pair is currently trading at 1.3011 after printing a low of 1.2981 and maintaining a fairly narrow range during the European session on Monday. The US dollar index (USDX) is trading near the highest level since August at 82.30.
EURFX (CME) COT Report
The COT report provides a breakdown of the prior Tuesday’s open interest for specified markets where 20 or more traders are holding positions equal to or above the reporting levels outlined by the CFTC.
Mary McCarthy, Forex-FX-4X.com
