The bad news for the 114 currency traders being tracked by Barclay’s Currency Traders Index (CTI) is that the index is up just 0.50 percent through the endof May. The good news is the CTI is the best-performing of the seven indices calculated by Barclays. The CTI has struggled to stay above water all year, although it managed to stay in the black for almost all of May.
Still, its year-to-date performance is better than that of the Discretionary Traders Index and the Financial and Metal Traders Index, and much better than the overall CTA index, which is down more than 3 percent so far in 2007. The CTI, which tracks managed money programs that trade currency futures and/or spot forex, is coming off back-to-back losing years and is trying to avoid its first three-year losing streak in its 20-year history.
The Barclay BTOP FX Index, which tracks the largest investable currency trading programs and accounts for at least half of the investable assets of all programs tracked by Barclay, is faring somewhat better. Although it had a small negative return for May, it’s still up 1.34 percent on the year. Its May high of 1,027.73 was less than a point off the all-time high of 1,028.70 set on April 20, and the index closed May at 1,021.41.
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