Eurodollar Non-Commercial Speculator Positions:
Large interest rate speculators increased their bearish net positions in the Eurodollar 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 Eurodollar futures, traded by large speculators and hedge funds, totaled a net position of -2,960,544 contracts in the data reported through Tuesday August 28th. This was a weekly decrease of -79,760 contracts from the previous week which had a total of -2,880,784 net contracts.
The speculative bearish position in Eurodollar futures had been on the decline with a streak of six weeks of falling bearish bets before this week’s turnaround. The overall bearish position remains under the -3,000,000 net contract level for a third week in a row after six straight weeks above this level.
Eurodollar Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 3,583,014 contracts on the week. This was a weekly uptick of 29,692 contracts from the total net of 3,553,322 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $97.01 which was a decline of $-0.035 from the previous close of $97.045, according to unofficial market data.