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US Dollar Index Speculators raised bullish bets. Euro bets surge & CAD, Peso bets fall

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US Dollar Index Speculator Positions

Large currency speculators lifted their bullish 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.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 12,520 contracts in the data reported through Tuesday March 24th. This was a weekly rise of 5,368 contracts from the previous week which had a total of 7,152 net contracts.

This week’s net position was the result of the gross bullish position (longs) going up by 2,914 contracts (to a weekly total of 22,456 contracts) compared to the gross bearish position (shorts) which saw a decline by -2,454 contracts on the week (to a total of 9,936 contracts).

US Dollar Index speculators had cut their bullish bets in the previous three straight weeks and pushed the overall net position to the lowest level in ninety-two weeks at just +7,152 contracts before this week’s turnaround. Despite this week’s gain, the USD Index positions remain under the 2020 weekly average of +16,300 speculator contracts. The dollar index prices cooled as this week went on and ended Friday around the 98.30 level after surging as high as almost 103.00 (late last week and early this week) as traders sought safe haven in the dollar.


Individual Currencies Data this week:

In the other major currency contracts data, we saw three substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Euro speculator bets surged once again this week for a fourth straight week. The euro position has gained by a huge total of +175,311 contracts in just these past four weeks and is now at the most bullish level since June 12th of 2018 (a span of 93 weeks).

Canadian dollar bets dropped sharply this week by almost -20,000 contracts and overall, the CAD spec position has declined for four straight weeks. The CAD bets have now been in bearish territory for three straight weeks following thirty-six consecutive weeks in bullish territory.

Mexican peso positions fell for an eighth straight week and by a total of -148,387 contracts over that period. The peso position is now down to the least bullish level in sixty-four weeks, dating back to December of 2018. Peso positions had recently hit an all-time high position of +170,366 contracts on January 28th.

Overall, the major currencies that saw improving speculator positions this week were the US dollar index (5,368 weekly change in contracts), euro (28,795 contracts), Australian dollar (3,526 contracts) and the New Zealand dollar (4,259 contracts).

The currencies whose speculative bets declined this week were the British pound sterling (-7,756 weekly change in contracts), Japanese yen (-9,072 contracts), Swiss franc (-2,483 contracts), Canadian dollar (-19,622 contracts) and the Mexican peso (-11,866 contracts).


Chart: Current Strength of Each Currency compared to their 3-Year Range


The above chart depicts each currency’s current speculator strength level compared to data of the past 3 years. A score of 0 percent would mean speculator bets are currently at the lowest level of the past three years. A 100 percent score would be at the highest level while a 50 percent score would mean speculator bets are right in the middle of the data (a neutral score). We use above 80 percent (extreme bullish) and below 20 percent (extreme bearish) as extreme score measurements.

Please see the data table and individual currency charts below.


Table of Large Speculator Levels & Weekly Changes:

Currency Net Speculator Position Specs Weekly Change
USD Index 12,520 5,368
EuroFx 61,290 28,795
GBP 10,884 -7,756
JPY 23,863 -9,072
CHF 4,891 -2,483
CAD -29,245 -19,622
AUD -25,207 3,526
NZD -16,016 4,259
MXN 21,979 -11,866

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 


Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

The Euro large speculator standing this week recorded a net position of 61,290 contracts in the data reported through Tuesday. This was a weekly lift of 28,795 contracts from the previous week which had a total of 32,495 net contracts.


British Pound Sterling:

The large British pound sterling speculator level reached a net position of 10,884 contracts in the data reported this week. This was a weekly lowering of -7,756 contracts from the previous week which had a total of 18,640 net contracts.


Japanese Yen:

Large Japanese yen speculators totaled a net position of 23,863 contracts in this week’s data. This was a weekly fall of -9,072 contracts from the previous week which had a total of 32,935 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week resulted in a net position of 4,891 contracts in the data through Tuesday. This was a weekly fall of -2,483 contracts from the previous week which had a total of 7,374 net contracts.


Canadian Dollar:

Canadian dollar speculators came in at a net position of -29,245 contracts this week. This was a fall of -19,622 contracts from the previous week which had a total of -9,623 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures equaled a net position of -25,207 contracts this week in the data ending Tuesday. This was a weekly lift of 3,526 contracts from the previous week which had a total of -28,733 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing recorded a net position of -16,016 contracts this week in the latest COT data. This was a weekly gain of 4,259 contracts from the previous week which had a total of -20,275 net contracts.


Mexican Peso:

Mexican peso speculators recorded a net position of 21,979 contracts this week. This was a weekly decrease of -11,866 contracts from the previous week which had a total of 33,845 net contracts.


Article By CountingPips.comReceive our weekly COT Reports by Email

*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).

WTI Crude Oil Speculators trim bullish bets for 3rd time in 4 weeks

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WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators edged their bullish net positions lower in the WTI Crude Oil 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 WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 436,013 contracts in the data reported through Tuesday March 24th. This was a weekly decline of -4,224 net contracts from the previous week which had a total of 440,237 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 5,547 contracts (to a weekly total of 578,366 contracts) while the gross bearish position (shorts) got a boost by 9,771 contracts for the week (to a total of 142,353 contracts).

Crude oil speculators trimmed their bullish positions this week for the third time in four weeks and following a bullish jump in positions last week by a total of +52,840 contracts. Speculator positions remain strongly bullish despite the recent substantial selloff in crude oil prices with the current standing (+436,013 contracts) above the 2019 average speculator level of +412,127 contracts and just below this year’s average speculator level of +447,441 contracts.

WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -466,893 contracts on the week. This was a weekly decrease of -10,295 contracts from the total net of -456,598 contracts reported the previous week.

WTI Crude Oil Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $24.01 which was a shortfall of $-3.32 from the previous close of $27.33, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Speculators cut back on their bearish bets this week

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10-Year Note Non-Commercial Speculator Positions:

Large bond speculators trimmed their bearish net positions in the 10-Year Note 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 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -212,029 contracts in the data reported through Tuesday March 24th. This was a weekly change of 39,084 net contracts from the previous week which had a total of -251,113 net contracts.

The week’s net position was the result of the gross bullish position (longs) declining by -43,637 contracts (to a weekly total of 483,608 contracts) while the gross bearish position (shorts) dropped by a greater amount of -82,721 contracts for the week (to a total of 695,637 contracts).

The 10-Year speculators had increased their bearish bets in the previous two weeks before this week’s reduction. Overall, the bearish position has now fallen by almost half since February 11th when the net position totaled -398,919 contracts and is currently below the 2020 weekly average of +262,361 contracts. The last time speculators were actually bullish in the 10-Year contracts was in December of 2017.

10-Year Note Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 149,573 contracts on the week. This was a weekly drop of -17,164 contracts from the total net of 166,737 contracts reported the previous week.

10-Year Note Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $137.45which was an advance of $1.56 from the previous close of $135.89, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

Gold Speculators slightly raised their bullish bets this week

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Gold Non-Commercial Speculator Positions:

Large precious metals speculators increased their bullish net positions in the Gold futures markets this week following four straight down weeks, 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 288,366 contracts in the data reported through Tuesday March 24th. This was a weekly gain of 6,450 net contracts from the previous week which had a total of 281,916 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 523 contracts (to a weekly total of 317,928 contracts) while the gross bearish position (shorts) dropped by -5,927 contracts for the week (to a total of 29,562 contracts).

Gold speculative bets were stronger this week following four weeks of declines that had subtracted a total of -71,733 contracts from the existing bullish position. Despite the recent declines, the speculator gold position remains relatively strong compared to recent history as this week’s level of +288,366 contracts is well above the average weekly speculator position for all of 2019 which was +197,440 contracts.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -311,823 contracts on the week. This was a weekly shortfall of -10,114 contracts from the total net of -301,709 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1660.80 which was a gain of $135.00 from the previous close of $1525.80, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

VIX Speculators sharply cut their bearish bets to 62-week low

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VIX Non-Commercial Speculator Positions:

Large volatility speculators strongly dropped their bearish net positions in the VIX 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -18,708 contracts in the data reported through Tuesday March 24th. This was a weekly change of 60,779 net contracts from the previous week which had a total of -79,487 net contracts.

The week’s net position was the result of the gross bullish position (longs) declining by -39,276 contracts (to a weekly total of 82,266 contracts) while the gross bearish position (shorts) fell by -100,055 contracts for the week (to a total of 100,974 contracts).

VIX speculative positions declined by the most in a one week period since August 6th of 2019 and the overall standing slid all the way to the lowest level since January 15th of 2019 (a span of 62 weeks). The VIX, or fear index, rocketed higher in late February and has reached the highest levels since the Financial Crisis of 2008 with spikes up to the 85 level.

Noticeably, open interest levels fell dramatically this week (to the lowest levels since 2016) as traders fled the VIX futures market. The total of open interest was just 268,255 contracts as of Tuesday compared to an average of 441,575 contracts from January 7th to March 17th.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 23,272 contracts on the week. This was a weekly shortfall of -58,772 contracts from the total net of 82,044 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $48.25 which was a fall of $-13.17 from the previous close of $61.42, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

Speculators cut their US Dollar bullish bets. Euro, Yen & Aussie bets surged

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US Dollar Index Speculator Positions

Large currency speculators decreased their net bullish 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.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 7,152 contracts in the data reported through Tuesday March 17th. This was a weekly lowering of -5,260 contracts from the previous week which had a total of 12,412 net contracts.

This week’s net position was the result of the gross bullish position (longs) lowering by -6,060 contracts (to a weekly total of 19,542 contracts) compared to the gross bearish position (shorts) which saw a decrease by just -800 contracts on the week (to a total of 12,390 contracts).

US Dollar Index speculators reduced their dollar bets for a third straight week this week despite the dollar strength being shown in the markets. Speculators have trimmed a total of -17,925 contracts off the bullish position in the past three weeks and the current position is now at the lowest level in ninety-two weeks at just +7,152 contracts. Despite these speculator selloffs, the markets strongly bid the dollar as most desired safe-haven currency and pushed the Dollar Index above the 101 level and to its highest level since January 2017. The dollar has even been stronger than the Japanese yen and the Swiss franc (usually the top safe havens) as investors rushed to cash (dollars) in the market turmoil due to the COVID-19 outbreak .


Individual Currencies Data this week: Euro, Yen, AUD bets jumped

In the other major currency contracts data, we saw four substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Euro bets surged higher once again this week as speculators pushed the overall standing into a bullish stance (+32,495 contracts) for the first time since September of 2018. Euro bets rose by over +45,000 contracts this week following gains by +74,036 contracts and by +27,318 contracts in the previous two weeks, respectively. Despite these speculator bets, the euro was on the defensive and the EURUSD closed the week under the 1.07 level.

Japanese yen bets jumped for a third straight week this week by over +24,000 contracts. The yen contracts have now risen by +89,324 contracts over the past three weeks and overall back into bullish territory. Despite these rises, the yen actually fell to the dollar this week and the USDJPY currency pair ended the week over the 110.70 level.

Australian dollar positions rose sharply this week by over +25,000 contracts. Previously, AUD positions had declined for six out of the past seven weeks and dropped to the most bearish level in twenty-seven weeks. Despite the weekly gain, AUD speculator contracts remain in bearish territory for the 103rd straight week.

Mexican peso speculator bets dropped sharply as investors strongly sold off the peso in the markets this week. Peso bets fell by more than -78,000 contracts in what was the largest one-week selloff in history, according to the CFTC data going back to 1995. Peso positions had stayed above the +100,000 net contract level for twenty-four straight weeks before this week’s decline which brings the overall standing down to just +33,845 contracts (lowest level since January 8th of 2019).

Overall, the major currencies that saw improving speculator positions this week were the euro (45,162 weekly change in contracts),  Japanese yen (24,778 contracts), Swiss franc (6,779 contracts) and the Australian dollar (25,280 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-5,260 weekly change in contracts), British pound sterling (-7,688 contracts), New Zealand dollar (-4,899 contracts), Canadian dollar (-7,633 contracts) and the Mexican peso (-78,702 contracts).


Chart: Current Strength of Each Currency compared to their 3-Year Range

The above chart depicts each currency’s current speculator strength level compared to data of the past 3 years. A score of 0 percent would mean speculator bets are currently at the lowest level of the past three years. A 100 percent score would be at the highest level while a 50 percent score would mean speculator bets are right in the middle of the data (a neutral score). We use above 80 percent (extreme bullish) and below 20 percent (extreme bearish) as extreme score measurements.

Please see the data table and individual currency charts below.


Table of Large Speculator Levels & Weekly Changes:

Currency Net Speculator Position Specs Weekly Change
USD Index 7,152 -5,260
EuroFx 32,495 45,162
GBP 18,640 -7,688
JPY 32,935 24,778
CHF 7,374 6,779
CAD -9,623 -7,633
AUD -28,733 25,280
NZD -20,275 -4,899
MXN 33,845 -78,702

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 


Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

The Euro large speculator standing this week was a net position of 32,495 contracts in the data reported through Tuesday. This was a weekly gain of 45,162 contracts from the previous week which had a total of -12,667 net contracts.


British Pound Sterling:

The large British pound sterling speculator level reached a net position of 18,640 contracts in the data reported this week. This was a weekly decrease of -7,688 contracts from the previous week which had a total of 26,328 net contracts.


Japanese Yen:

Large Japanese yen speculators reached a net position of 32,935 contracts in this week’s data. This was a weekly increase of 24,778 contracts from the previous week which had a total of 8,157 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week reached a net position of 7,374 contracts in the data through Tuesday. This was a weekly boost of 6,779 contracts from the previous week which had a total of 595 net contracts.


Canadian Dollar:

Canadian dollar speculators was a net position of -9,623 contracts this week. This was a decline of -7,633 contracts from the previous week which had a total of -1,990 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures totaled a net position of -28,733 contracts this week in the data ending Tuesday. This was a weekly increase of 25,280 contracts from the previous week which had a total of -54,013 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing was a net position of -20,275 contracts this week in the latest COT data. This was a weekly reduction of -4,899 contracts from the previous week which had a total of -15,376 net contracts.


Mexican Peso:

Mexican peso speculators was a net position of 33,845 contracts this week. This was a weekly decrease of -78,702 contracts from the previous week which had a total of 112,547 net contracts.


Article By CountingPips.comReceive our weekly COT Reports by Email

*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).

WTI Crude Oil Speculators raised bullish bets this week despite price drop

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WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators boosted their bullish net positions in the WTI Crude Oil 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 WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 440,237 contracts in the data reported through Tuesday March 17th. This was a weekly change of 52,840 net contracts from the previous week which had a total of 387,397 net contracts.

The week’s net position was the result of the gross bullish position (longs) lowering by -14,748 contracts (to a weekly total of 572,819 contracts) while the gross bearish position (shorts) decreased by -67,588 contracts for the week (to a total of 132,582 contracts).

Crude speculators sharply raised their bets this week following two straight down weeks. Speculative positions have overall been on the decline in recent months as bullish bets have fallen from a total of +567,272 contracts on January 7th to as low as +387,397 contracts on March 10th. The Saudi-Russian oil price war as well as the COVID-19 outbreak has pushed the price of WTI crude to its lowest standing since 2001 and closed out the week just above the $22 price level.

WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -456,598 contracts on the week. This was a weekly decline of -60,216 contracts from the total net of -396,382 contracts reported the previous week.

WTI Crude Oil Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $27.33 which was a shortfall of $-7.03 from the previous close of $34.36, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Speculators added to their bearish bets for 2nd week

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10-Year Note Non-Commercial Speculator Positions:

Large bond speculators increased their bearish net positions in the 10-Year Note 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 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -251,113 contracts in the data reported through Tuesday March 17th. This was a weekly change of -36,530 net contracts from the previous week which had a total of -214,583 net contracts.

The week’s net position was the result of the gross bullish position (longs) lowering by -134,093 contracts (to a weekly total of 527,245 contracts) while the gross bearish position (shorts) fell by -97,563 contracts for the week (to a total of 778,358 contracts).

Ten-year bond speculators added to their bearish bets for the second consecutive week and by a total of -94,429 contracts over that time-frame. The ten-year bond has mostly provided a strong safe haven in the current market turmoil (COVID-19 outbreak) as the yield on the ten-year bond recently hit record lows under 0.40 percent on March 9th (As bond prices rise, yields fall). Previously, speculators had sharply cut their bearish positions by a total of +242,235 contracts over the prior three weeks.

10-Year Note Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 166,737 contracts on the week. This was a weekly loss of -7,491 contracts from the total net of 174,228 contracts reported the previous week.

10-Year Note Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $135.51 which was a loss of $-1.69 from the previous close of $137.20, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

Article By CountingPips.comReceive our weekly COT Reports by Email

Gold Speculators dropped bullish bets for 4th straight week after record high

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Gold Non-Commercial Speculator Positions:

Large precious metals speculators cut back on their bullish net positions in the Gold futures markets again this week after reaching a record high in February, 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 281,916 contracts in the data reported through Tuesday March 17th. This was a weekly change of -17,615 net contracts from the previous week which had a total of 299,531 net contracts.

The week’s net position was the result of the gross bullish position (longs) sinking by -18,885 contracts (to a weekly total of 317,405 contracts) while the gross bearish position (shorts) decreased by just -1,270 contracts for the week (to a total of 35,489 contracts).

Gold Speculators decreased their bullish bets for the fourth consecutive week this week and by a total of -71,733 contracts over this 4-week period. Bullish bets had previously risen to an all-time record high level of 353,649 contracts on February 18th (CFTC data going back to 1986) before turning lower in the following weeks. Gold bets remain strongly bullish at +281,916 net contracts but are at the lowest level in fourteen weeks.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -301,709 contracts on the week. This was a weekly rise of 26,595 contracts from the total net of -328,304 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1525.80 which was a shortfall of $-134.50 from the previous close of $1660.30, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

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VIX Speculators increased their bearish bets for 2nd straight week

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VIX Non-Commercial Speculator Positions:

Large volatility speculators raised their bearish net positions in the VIX futures markets this week despite the coronavirus turmoil in the markets, 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -79,487 contracts in the data reported through Tuesday March 17th. This was a weekly change of -16,165 net contracts from the previous week which had a total of -63,322 net contracts.

The week’s net position was the result of the gross bullish position (longs) dropping by -21,929 contracts (to a weekly total of 121,542 contracts) while the gross bearish position (shorts) fell by a lesser amount of -5,764 contracts for the week (to a total of 201,029 contracts).

VIX speculators continued to be short the VIX this week and actually added to their bearish positions for a second straight week. The previous three weeks had seen bearish bets drop sharply from a total of -130,229 contracts on February 18th to a total of -57,486 contracts on March 3rd before turning bearish again in the past two weeks.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 82,044 contracts on the week. This was a weekly increase of 16,078 contracts from the total net of 65,966 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $61.42 which was a rise of $26.65 from the previous close of $34.77, according to unofficial market data.

*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) as well as the commercial traders (hedgers & traders for business purposes) 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).

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