USD longs at 8-month high

March 18, 2013

Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, March 15, by the Commodity Futures Trading Commission (CFTC) for a week ended March 12.

Large speculators increased the value of USD net long position from $23.57 billion to $25.46 billion, the highest level in 8 months. The players added to bearish bets against GBP, JPY, CHF and CAD, while longs increased in AUD.

It’s necessary to note that the figures cited above are always a week old at the time of their release. Never the less, CFTC data gives a good oversight into how the market is positioned and if/how these positions are being unwound. Although the CME speculators represent a small fraction of trading in the currency markets, their trades are widely seen as typical of hedge fund investors' currency movements.

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