COT Speculators cut USD bets for 6th week. VIX bets hit another high. Gold, Silver dip

November 17, 2019

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Here are the latest links to our coverage of the Commitment of Traders data changes.

This week in the COT data, currency speculators once again reduced their US Dollar Index bullish bets for a sixth consecutive week. The current USD bullish position is now at the lowest level since July.

Canadian dollar bullish bets dropped by over -11,000 contracts after surging in each of the previous three weeks.

Australian dollar bets fell sharply (-14,015 contracts) only one week after the Aussie had improved to the least bearish level in forty-four weeks.


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Precious metals speculators decreased their Gold bullish positions this week after bets had risen for three straight weeks. Despite the decline this week, gold bullish bets have stayed above the +250,000 net contract level for 16 consecutive weeks

Silver speculators decreased their bullish bets for the second straight week. This decline pushed positions to the lowest level of the past 18 weeks.

Copper speculators added to their bearish bets following four straight weeks of lower bearish positions. The current bearish position remains right around the -25,000 net contract which is less than half the total of the record bearish level of -58,841 contracts that was recorded in early September.

VIX speculators once again added to their bearish bets for a fifth straight week and for the tenth time in the past eleven weeks. This week’s total (-206,157 contracts) establishes a new record bearish standing which is the third straight week that specs have recorded a new all-time high.

The 10-Year Note speculators cut back on their bearish bets following two straight weeks of increasing bearish positions. The reduction in bearish positions has brought the total under the 2019 average position level of -262,602 contracts.

Lastly, Crude oil speculative positions were boosted higher for a fifth consecutive week. The bullish level is now back over the +400,000 net contract threshold and above the 2019 average level of +399,218 contracts.


US Dollar Index Speculators trim bullish bets for a 6th week. AUD, CAD bets fall

Large currency speculators decreased their net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. See full article.


Speculators boosted their WTI Crude Oil bullish bets higher for 5th week

The large speculator contracts of WTI crude futures totaled a net position of 424,597 contracts, according to the latest data this week. This was a change of 18,457 contracts from the previous weekly total. See full article.


Large Speculators cut back on their 10-Year Treasury Note bearish bets

Large speculator contracts of the 10-Year Bond futures totaled a net position of -148,794 contracts, according to the latest data this week. This was a change of 82,662 contracts from the previous weekly total. See full article.


Gold Speculators cut back on their bullish bets for first time in 4 weeks

Large precious metals speculator contracts of the Gold futures totaled a net position of 267,066 contracts, according to the latest data this week. This was a change of -12,762 contracts from the previous weekly total. See full article.


VIX Speculators continue to set new record bearish positions

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -206,157 contracts, according to the latest data this week. This was a change of -2,559 contracts from the previous weekly total. See full article.


Silver Speculators sharply reduced their bullish bets

Large precious metals speculator contracts of the silver futures totaled a net position of 37,364 contracts, according to the latest data this week. This was a change of -10,633 contracts from the previous weekly total. See full article.


Copper Speculators added to their bearish bets for 1st time in 5 weeks

Metals speculator contracts of the copper futures totaled a net position of -26,287 contracts, according to the latest data this week. This was a change of -2,976 contracts from the previous weekly total. See full article.


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).