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CFTC: USD longs contracted

Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, June 7, by the Commodity Futures Trading Commission (CFTC) for a week ended June 4.

Large futures traders trimmed their net US dollar long positions from $43.8 bln on May 28 to $39.1 bln on June 4. Meanwhile, net EUR shorts have finally improved after falling for four consecutive weeks.

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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