Speculative Currency Short Positions Decline
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
By Marc Chandler
NEW YORK ( BBH FX Strategy) -- The latest Commitment of Traders report from the Commodity Futures Trading Commission covers the week ending March 20.
Among the major currency futures, there was dramatic reduction of net short speculative positions. To appreciate how this was achieved is only possible by disaggregating the data.The net speculative euro short position was cut to about 83,000 contracts from 99,300 the previous week. This is the smallest net short position since the end of February. In the previous week there was a decline of net short euro contracts roughly of the same magnitude. This was almost solely the function of shorts getting out. However, this week the establishment of new euro longs was larger (10,100) than the shorts exiting (6,300).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV