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CFTC: USD longs at highs

Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, May 31, by the Commodity Futures Trading Commission (CFTC) for a week ended May 28.

Large futures traders continued to increase bullish bets of the US dollar last week. Total USD long positions have risen from $41.0 to $43.8 and are at a new high since 2008.

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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