Eurodollar Non-Commercial Speculator Positions:
Large speculators continued to cut back on 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 -2,891,371 contracts in the data reported through Tuesday June 19th. This was a weekly advance of 436,855 contracts from the previous week which had a total of -3,328,226 net contracts.
Speculative positions dropped for a sixth straight week this week and by a total of 1,148,923 contracts over that time-frame. The current level is now at the least bearish standing since January 23rd of this year.
Eurodollar Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 3,602,999 contracts on the week. This was a weekly loss of -429,004 contracts from the total net of 4,032,003 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $96.99 which was an increase of $0.01 from the previous close of $96.98, according to unofficial market data.