Large Currency Speculators sharply cut back on Canadian dollar bets

Large Currency Speculators sharply cut back on Canadian dollar bets

By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday March 22nd and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.

Highlighting the COT currency data was the sharp pullback in the Canadian dollar currency futures contracts. Canadian dollar speculators cut back on their bullish bets by a total of -22,680 contracts, the largest change among currencies this week and one week after CAD saw bullish bets rise by over +10,000 contracts (bringing the speculator standing to a six-week high). This week’s decline dropped the total net speculator standing back into bearish territory (-4,940 contracts) for the first time in the past ten weeks, dating back to January 11th. The major commodity currencies (Canadian dollar, Australian dollar and New Zealand dollar) all saw pullbacks in their speculator bets this week after strong rises last week.

The only currency markets with higher speculator bets this week were the US Dollar Index (1,255 contracts) and the Euro (5,049 contracts).

The currencies with declining bets were the Japanese yen (-16,142 contracts), Brazil real (-2,599 contracts), Swiss franc (-3,195 contracts), British pound sterling (-8,183 contracts), New Zealand dollar (-1,133 contracts), Canadian dollar (-22,680 contracts), Russian ruble (-263 contracts) and Bitcoin (-190 contracts).


Data Snapshot of Forex Market Traders | Columns Legend
Mar-22-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
USD Index 51,952 72 29,635 77 -33,521 19 3,886 59
EUR 658,817 66 23,843 42 -46,378 63 22,535 12
GBP 195,712 36 -37,244 47 50,390 59 -13,146 28
JPY 248,221 87 -78,482 18 104,790 88 -26,308 0
CHF 44,911 21 -8,424 55 20,499 54 -12,075 28
CAD 124,090 13 -4,940 43 -7,565 54 12,505 55
AUD 127,767 28 -51,189 37 48,388 55 2,801 59
NZD 35,256 15 2,520 75 -2,069 27 -451 47
MXN 134,766 19 -18,051 20 13,919 79 4,132 61
RUB 20,930 4 7,543 31 -7,150 69 -393 24
BRL 70,832 68 41,564 91 -44,463 8 2,899 100
Bitcoin 11,274 61 0 94 -481 0 481 24

 


US Dollar Index Futures:

US Dollar Index Forex Futures COT ChartThe US Dollar Index large speculator standing this week resulted in a net position of 29,635 contracts in the data reported through Tuesday. This was a weekly lift of 1,255 contracts from the previous week which had a total of 28,380 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.9 percent. The commercials are Bearish-Extreme with a score of 18.9 percent and the small traders (not shown in chart) are Bullish with a score of 59.0 percent.

US DOLLAR INDEX Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 83.8 3.2 10.5
– Percent of Open Interest Shorts: 26.8 67.7 3.0
– Net Position: 29,635 -33,521 3,886
– Gross Longs: 43,561 1,665 5,434
– Gross Shorts: 13,926 35,186 1,548
– Long to Short Ratio: 3.1 to 1 0.0 to 1 3.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.9 18.9 59.0
– Strength Index Reading (3 Year Range): Bullish Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.1 12.1 -34.7

 


Euro Currency Futures:

Euro Currency Futures COT ChartThe Euro Currency large speculator standing this week resulted in a net position of 23,843 contracts in the data reported through Tuesday. This was a weekly boost of 5,049 contracts from the previous week which had a total of 18,794 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 42.3 percent. The commercials are Bullish with a score of 62.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.7 percent.

EURO Currency Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.4 54.3 11.5
– Percent of Open Interest Shorts: 27.8 61.3 8.1
– Net Position: 23,843 -46,378 22,535
– Gross Longs: 207,051 357,492 75,970
– Gross Shorts: 183,208 403,870 53,435
– Long to Short Ratio: 1.1 to 1 0.9 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 42.3 62.6 11.7
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.6 7.6 -19.7

 


British Pound Sterling Futures:

British Pound Sterling Futures COT ChartThe British Pound Sterling large speculator standing this week resulted in a net position of -37,244 contracts in the data reported through Tuesday. This was a weekly fall of -8,183 contracts from the previous week which had a total of -29,061 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 47.2 percent. The commercials are Bullish with a score of 59.5 percent and the small traders (not shown in chart) are Bearish with a score of 28.4 percent.

BRITISH POUND Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.7 70.4 9.9
– Percent of Open Interest Shorts: 35.8 44.7 16.6
– Net Position: -37,244 50,390 -13,146
– Gross Longs: 32,753 137,829 19,316
– Gross Shorts: 69,997 87,439 32,462
– Long to Short Ratio: 0.5 to 1 1.6 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 47.2 59.5 28.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -20.7 24.3 -25.6

 


Japanese Yen Futures:

Japanese Yen Forex Futures COT ChartThe Japanese Yen large speculator standing this week resulted in a net position of -78,482 contracts in the data reported through Tuesday. This was a weekly fall of -16,142 contracts from the previous week which had a total of -62,340 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 18.4 percent. The commercials are Bullish-Extreme with a score of 88.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

JAPANESE YEN Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 14.8 76.2 7.2
– Percent of Open Interest Shorts: 46.4 34.0 17.7
– Net Position: -78,482 104,790 -26,308
– Gross Longs: 36,676 189,100 17,749
– Gross Shorts: 115,158 84,310 44,057
– Long to Short Ratio: 0.3 to 1 2.2 to 1 0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 18.4 88.2 0.0
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -12.2 14.3 -19.3

 


Swiss Franc Futures:

Swiss Franc Forex Futures COT ChartThe Swiss Franc large speculator standing this week resulted in a net position of -8,424 contracts in the data reported through Tuesday. This was a weekly lowering of -3,195 contracts from the previous week which had a total of -5,229 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.2 percent. The commercials are Bullish with a score of 53.9 percent and the small traders (not shown in chart) are Bearish with a score of 27.9 percent.

SWISS FRANC Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 13.4 68.3 18.1
– Percent of Open Interest Shorts: 32.1 22.6 45.0
– Net Position: -8,424 20,499 -12,075
– Gross Longs: 6,012 30,663 8,143
– Gross Shorts: 14,436 10,164 20,218
– Long to Short Ratio: 0.4 to 1 3.0 to 1 0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 55.2 53.9 27.9
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.7 4.0 -13.4

 


Canadian Dollar Futures:

Canadian Dollar Forex Futures COT ChartThe Canadian Dollar large speculator standing this week resulted in a net position of -4,940 contracts in the data reported through Tuesday. This was a weekly lowering of -22,680 contracts from the previous week which had a total of 17,740 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 42.9 percent. The commercials are Bullish with a score of 54.1 percent and the small traders (not shown in chart) are Bullish with a score of 54.7 percent.

CANADIAN DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.6 47.8 26.9
– Percent of Open Interest Shorts: 27.6 53.9 16.8
– Net Position: -4,940 -7,565 12,505
– Gross Longs: 29,314 59,269 33,406
– Gross Shorts: 34,254 66,834 20,901
– Long to Short Ratio: 0.9 to 1 0.9 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 42.9 54.1 54.7
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -19.2 6.8 20.8

 


Australian Dollar Futures:

Australian Dollar Forex Futures COT ChartThe Australian Dollar large speculator standing this week resulted in a net position of -51,189 contracts in the data reported through Tuesday. This was a weekly decline of -6,333 contracts from the previous week which had a total of -44,856 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.4 percent. The commercials are Bullish with a score of 55.0 percent and the small traders (not shown in chart) are Bullish with a score of 59.3 percent.

AUSTRALIAN DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 18.6 59.4 20.0
– Percent of Open Interest Shorts: 58.7 21.5 17.8
– Net Position: -51,189 48,388 2,801
– Gross Longs: 23,747 75,916 25,508
– Gross Shorts: 74,936 27,528 22,707
– Long to Short Ratio: 0.3 to 1 2.8 to 1 1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 37.4 55.0 59.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 32.0 -37.3 37.6

 


New Zealand Dollar Futures:

New Zealand Dollar Forex Futures COT ChartThe New Zealand Dollar large speculator standing this week resulted in a net position of 2,520 contracts in the data reported through Tuesday. This was a weekly fall of -1,133 contracts from the previous week which had a total of 3,653 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 75.5 percent. The commercials are Bearish with a score of 27.2 percent and the small traders (not shown in chart) are Bearish with a score of 46.7 percent.

NEW ZEALAND DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 48.7 40.4 9.5
– Percent of Open Interest Shorts: 41.5 46.2 10.7
– Net Position: 2,520 -2,069 -451
– Gross Longs: 17,156 14,227 3,339
– Gross Shorts: 14,636 16,296 3,790
– Long to Short Ratio: 1.2 to 1 0.9 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 75.5 27.2 46.7
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 21.6 -22.8 21.9

 


Mexican Peso Futures:

Mexican Peso Futures COT ChartThe Mexican Peso large speculator standing this week resulted in a net position of -18,051 contracts in the data reported through Tuesday. This was a weekly reduction of -7,475 contracts from the previous week which had a total of -10,576 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 19.6 percent. The commercials are Bullish with a score of 78.6 percent and the small traders (not shown in chart) are Bullish with a score of 60.5 percent.

MEXICAN PESO Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 43.1 51.1 5.1
– Percent of Open Interest Shorts: 56.5 40.8 2.0
– Net Position: -18,051 13,919 4,132
– Gross Longs: 58,150 68,880 6,851
– Gross Shorts: 76,201 54,961 2,719
– Long to Short Ratio: 0.8 to 1 1.3 to 1 2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 19.6 78.6 60.5
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.2 7.5 5.5

 


Brazilian Real Futures:

Brazil Real Futures COT ChartThe Brazilian Real large speculator standing this week resulted in a net position of 41,564 contracts in the data reported through Tuesday. This was a weekly fall of -2,599 contracts from the previous week which had a total of 44,163 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 91.2 percent. The commercials are Bearish-Extreme with a score of 7.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

BRAZIL REAL Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 77.6 15.3 6.8
– Percent of Open Interest Shorts: 19.0 78.1 2.8
– Net Position: 41,564 -44,463 2,899
– Gross Longs: 55,001 10,863 4,851
– Gross Shorts: 13,437 55,326 1,952
– Long to Short Ratio: 4.1 to 1 0.2 to 1 2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 91.2 7.9 100.0
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 20.9 -21.5 8.5

 


Russian Ruble Futures:

Russian Ruble Futures COT ChartThe Russian Ruble large speculator standing this week resulted in a net position of 7,543 contracts in the data reported through Tuesday. This was a weekly decline of -263 contracts from the previous week which had a total of 7,806 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.2 percent. The commercials are Bullish with a score of 69.1 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

RUSSIAN RUBLE Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.6 60.6 2.8
– Percent of Open Interest Shorts: 0.5 94.7 4.7
– Net Position: 7,543 -7,150 -393
– Gross Longs: 7,658 12,679 593
– Gross Shorts: 115 19,829 986
– Long to Short Ratio: 66.6 to 1 0.6 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 31.2 69.1 23.9
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -15.6 16.7 -18.8

 


Bitcoin Futures:

Bitcoin Crypto Futures COT ChartThe Bitcoin large speculator standing this week resulted in a net position of 0 contracts in the data reported through Tuesday. This was a weekly lowering of -190 contracts from the previous week which had a total of 190 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 94.3 percent. The commercials are Bearish-Extreme with a score of 2.9 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

BITCOIN Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 74.7 2.9 11.2
– Percent of Open Interest Shorts: 74.7 7.2 6.9
– Net Position: 0 -481 481
– Gross Longs: 8,425 326 1,263
– Gross Shorts: 8,425 807 782
– Long to Short Ratio: 1.0 to 1 0.4 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 94.3 2.9 23.9
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.8 -23.4 -0.6

 


Article By InvestMacroReceive our weekly COT Reports by Email

*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) 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) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

Invest Macro

Invest Macro

InvestMacro is an independent investing media website. Started in 2007 as a simple trading blog (as CountingPips.com) focused on global major currencies, InvestMacro has since steadily expanded and evolved. Our mission is to provide independent coverage of the relevant financial markets for global macro investors. All information and opinions are for general informational purposes only and do not constitute investment advice.