Dollar: speculators pierced the \”bottom\”

according to COT (Commitements of Traders), provided by the commercial trade futures trading commission (CFTC) – for the week that ended in the last Tuesday, large speculators (Non -Commercial) reduced the clean position for the purchase of the dollar index by 3.3 thousand contracts before 26.9 thousand large speculative players reduced a clean position for the purchase after a weekly extension, and reduce it for 4 weeks out of the last 5. A pure position broke out the levels of September and became minimal since September 28, 2021.

Hedgers (Commercial) reduced The clean position for the sale of contracts for the dollar index for 3.9 thousand contracts to 30 thousand. Heders-operators reduce the clean position for the sale of 3 weeks out of the last 4. A clean position has become minimal since September 14, 2021. Open interest decreased by 8 thousand contracts to 48.4 thousand. The bull -clicking index of large speculators (the ratio of the number of contracts for the purchase for sale contracts) decreased by 0.16 to 3.22 per week.

resumes: COT reports on the dollar index (USDX) reflect a sharp increase in bear mood on American currency. After a week break, the traders sharply increased the reduction of a clean position on USD growth. At the same time, the pure position broke the “bottom” of the current year and has become minimal over the past 14 months. Large speculators reduced purchases by 9% per week. The continuation of this trend can help reduce the American currency.