US Dollar Index Speculators trimmed bearish net positions this week

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US Dollar Index Non-Commercial Speculator Positions:

Large currency speculators decreased their bearish net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of -3,578 contracts in the data reported through Tuesday February 6th. This was a weekly gain of 2,209 contracts from the previous week which had a total of -5,787 net contracts.

Speculative bearish positions of the dollar index had risen for six straight weeks before this week’s pull back of dollar bears. The US dollar index has now been in an overall bearish position for four straight weeks.

US Dollar Index Commercial Positions:


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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -51 contracts on the week. This was a weekly decline of -2,419 contracts from the total net of 2,368 contracts reported the previous week.

UUP:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the UUP ETF, which tracks the price of US Dollar Index, closed at approximately $23.42 which was an uptick of $0.14 from the previous close of $23.28, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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