US Dollar Index Speculators Lifted Bets For 6th Week To Over 2-YR High. NZD Bets Slide To Record Low

US Dollar Index Speculator Positions

Large currency speculators once again lifted their bullish net positions in the US Dollar Index futures markets this week while also dropping New Zealand dollar bets to a new record low, 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 43,028 contracts in the data reported through Tuesday, October 1. This was a weekly increase of 1,089 contracts from the previous week which had a total of 41,939 net contracts.

This week’s net position was the result of the gross bullish position (longs) advancing by 2,255 contracts (to a weekly total of 52,568 contracts) compared to the gross bearish position (shorts) which saw a lesser gain by 1,166 contracts on the week (to a total of 9,540 contracts).

US Dollar Index speculators raised their bets for a sixth consecutive week and their bullish sentiment has now risen by a total of +13,529 contracts over that period. These recent gains have pushed the speculative bullish position to above the +40,000 net contract level for a third straight week and to the highest level of the past 127 weeks, dating back to April 25th of 2017.

Individual Currencies Data this week: New Zealand dollar continues to hit records

In the other major currency contracts data, we saw only one substantial change (+ or – 10,000 contracts) but also one record position in the speculators category this week.

Mexican peso bullish bets jumped by over +20,000 contracts this week and rose sharply for a second consecutive week. The peso positions had also risen by over +10,000 contracts last week. These recent gains pushed the net position back over the +100,000 contract level for the first time in six weeks, dating back to August 27th. Previously, peso positions had been above the +100,000 contract level for twenty-three straight weeks through August 20th.

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