Eurodollar Futures Non-Commercial Speculator Positions:
Large speculators 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 -3,523,424 contracts in the data reported through Tuesday May 29th. This was a weekly gain of 257,896 contracts from the previous week which had a total of -3,781,320 net contracts.
Speculators have reduced the overall bearish net position for three straight weeks and by a total of +516,870 contracts. The current position is the least bearish level since February 13th when the net position totaled -3,404,985 contracts.
Eurodollar Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 4,236,564 contracts on the week. This was a weekly decrease of -264,383 contracts from the total net of 4,500,947 contracts reported the previous week.
ED Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Eurodollar Futures closed at approximately $97.305 which was a boost of $0.365 from the previous close of $96.94, according to unofficial market data.