After trading in the black for most of the first two months of 2007, currency traders scored the hat trick as the Barclay Currency Traders Index (CTI) finished March in positive territory after trading in the red for most of the month.
The index, which measures the returns of 114 different currency-trading programs (both spot forex and currency futures), was up 0.07 percent at the end of March. While the performance of the CTI was behind that of agricultural traders, discretionary traders, and financial/metal traders, it was nonetheless ahead of Barclay’s CTA index, the firm’s benchmark index that tracks 428 commodity trading advisors, and was down 0.17 percent through March 31.
Currency traders are trying to avoid the CTI finishing in the red for the third consecutive year, which would be a first in the 20-year history of the index. Since 1987, the index has averaged an annual return of more than 10 percent.
The BTOP FX index (BFI), which measures the largest investable currency trading programs, is up 0.01 percent through March. The index stood at 1,007.97 on March 30, just 7.68 points away from its yearly high and 15.67 away from the all-time high of 1,023.64, set in December of 2005.
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