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Large US Dollar Index Speculators dropped their bets back into bearish position

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US Dollar Index Speculator Positions

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.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of -1,666 contracts in the data reported through Tuesday October 20th. This was a weekly decrease of -2,103 contracts from the previous week which had a total of 437 net contracts.

This week’s net position was the result of the gross bullish position (longs) sliding by -2,042 contracts (to a weekly total of 18,068 contracts) and combined with the gross bearish position (shorts) which saw a rise by 61 contracts on the week (to a total of 19,734 contracts).

The US Dollar Index speculators reversed their bets this week and dropped their overall net positions back into a bearish standing. This week’s decline follows gains in the previous three weeks that had boosted the speculative position into bullish territory for the first time in the prior 18 weeks. The US Dollar Index price (DXY) also lost its momentum this week after a strong finish last week and closed the week below the 93.00 threshold, touching its lowest level since August along the way.


Individual Currencies Data this week:

In the individual contracts data, the currencies that saw improving speculator positions this week were the British pound sterling (7,802 weekly change in contracts)), Australian dollar (2,901 contracts), New Zealand dollar (112 contracts) and the Swiss franc (2,227 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-2,103 weekly change in contracts), euro (-2,694 contracts), Japanese yen (-5,793 contracts), Canadian dollar (-5,511 contracts) and the Mexican peso (-2,636 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 -1,666 -2,103
EuroFx 165,943 -2,694
GBP -2,000 7,802
JPY 14,183 -5,793
CHF 14,399 2,227
CAD -19,075 -5,511
AUD 6,755 2,901
NZD 6,602 112
MXN 19,842 -2,636

 

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 165,943 contracts in the data reported through Tuesday. This was a weekly decline of -2,694 contracts from the previous week which had a total of 168,637 net contracts.


British Pound Sterling:

The large British pound sterling speculator level resulted in a net position of -2,000 contracts in the data reported this week. This was a weekly boost of 7,802 contracts from the previous week which had a total of -9,802 net contracts.


Japanese Yen:

Large Japanese yen speculators recorded a net position of 14,183 contracts in this week’s data. This was a weekly decrease of -5,793 contracts from the previous week which had a total of 19,976 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week resulted in a net position of 14,399 contracts in the data through Tuesday. This was a weekly increase of 2,227 contracts from the previous week which had a total of 12,172 net contracts.


Canadian Dollar:

Canadian dollar speculators equaled a net position of -19,075 contracts this week. This was a reduction of -5,511 contracts from the previous week which had a total of -13,564 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures totaled a net position of 6,755 contracts this week in the data ending Tuesday. This was a weekly rise of 2,901 contracts from the previous week which had a total of 3,854 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing reached a net position of 6,602 contracts this week in the latest COT data. This was a weekly increase of 112 contracts from the previous week which had a total of 6,490 net contracts.


Mexican Peso:

Mexican peso speculators was a net position of 19,842 contracts this week. This was a weekly decline of -2,636 contracts from the previous week which had a total of 22,478 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 added to their bullish bets for 5th time in 6 weeks

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WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators once again advanced 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 490,348 contracts in the data reported through Tuesday October 20th. This was a weekly gain of 17,551 net contracts from the previous week which had a total of 472,797 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 14,764 contracts (to a weekly total of 664,697 contracts) while the gross bearish position (shorts) fell by -2,787 contracts for the week (to a total of 174,349 contracts).

Crude oil speculators raised their bullish bets for a third consecutive week and for the fifth time in the past six weeks. Oil positions have gained by a total of +28,437 net contracts over the past three weeks and have brought the overall bullish position to the highest level of the past seven weeks. The speculative bullish position has now been above the +400,000 net contract level for thirty-two straight weeks, dating back to March 10th.

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 -511,117 contracts on the week. This was a weekly shortfall of -14,202 contracts from the total net of -496,915 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 $41.46 which was an increase of $1.26 from the previous close of $40.20, 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).

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10-Year Note Speculators pulled back on their bullish bets this week

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10-Year Note Non-Commercial Speculator Positions:

Large bond speculators decreased their bullish 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 22,996 contracts in the data reported through Tuesday October 20th. This was a weekly drop of -52,261 net contracts from the previous week which had a total of 75,257 net contracts.

The week’s net position was the result of the gross bullish position (longs) tumbling by -22,850 contracts (to a weekly total of 562,330 contracts) while the gross bearish position (shorts) increased by 29,411 contracts for the week (to a total of 539,334 contracts).

The 10-Year Treasury speculators sharply cut back on their bullish bets for the second time in the past three weeks. The overall position has shed a total of -105,580 contracts over these past three weeks and has brought the current bullish standing to the lowest level of the last five weeks. Despite the recent setbacks, the speculator position has remained in a small bullish position for seventeen out of the past eighteen 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 -53,006 contracts on the week. This was a weekly gain of 46,513 contracts from the total net of -99,519 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 $138.703125 which was a decline of $-0.5 from the previous close of $139.203125, 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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Gold Speculators boosted their bullish bets for 3rd time in 4 weeks

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Gold Non-Commercial Speculator Positions:

Large precious metals speculators added to their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 249,604 contracts in the data reported through Tuesday October 20th. This was a weekly boost of 8,933 net contracts from the previous week which had a total of 240,671 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 13,220 contracts (to a weekly total of 340,206 contracts) while the gross bearish position (shorts) rose by a lesser amount of 4,287 contracts for the week (to a total of 90,602 contracts).

Gold speculators continued to raise their bullish bets this week for the third time in the past four weeks. Gold bets have also gained for six out of the past eight weeks with the net contracts rising by a total of +28,566 contracts over that period. These increases have pushed the current speculator standing to the most bullish level of the past thirteen weeks, dating back to July 21st.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -294,124 contracts on the week. This was a weekly loss of -9,469 contracts from the total net of -284,655 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 $1910.40 which was an advance of $21.90 from the previous close of $1888.50, 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 raised their bearish bets for a 3rd straight week

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VIX Non-Commercial Speculator Positions:

Large volatility speculators continued to add to 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 -107,292 contracts in the data reported through Tuesday October 20th. This was a weekly change of -5,353 net contracts from the previous week which had a total of -101,939 net contracts.

The week’s net position was the result of the gross bullish position (longs) ascending by 3,579 contracts (to a weekly total of 40,542 contracts) while the gross bearish position (shorts) rose by a larger amount of 8,932 contracts for the week (to a total of 147,834 contracts).

The VIX speculators once again raised their bearish bets this week for the third straight week. Bearish positions have gained by a total of -17,535 contracts over these past three weeks and pushed the current bearish standing to the highest level since February 18th. This week also marks the second straight week where net positions have totaled over -100,000 contracts. Overall, the VIX positions have remained in bearish territory for ninety-three straight weeks, dating back to January 2020. Notably, the net position never went into a bullish position (specs betting on a higher VIX) during the COVID-19 pandemic so far.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 107,578 contracts on the week. This was a weekly uptick of 2,870 contracts from the total net of 104,708 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 $29.60 which was a gain of $2.72 from the previous close of $26.88, 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

US Dollar Speculators pushed their bets into a new bullish position

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US Dollar Index Speculator Positions

Large currency speculators continued to raise 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.

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 437 contracts in the data reported through Tuesday October 13th. This was a weekly gain of 3,471 contracts from the previous week which had a total of -3,034 net contracts.

This week’s net position was the result of the gross bullish position (longs) rising by 1,601 contracts (to a weekly total of 20,110 contracts) combined with the gross bearish position (shorts) which fell by -1,870 contracts on the week (to a total of 19,673 contracts).

The US Dollar Index speculators boosted their net positions higher this week for the third consecutive week. The dollar bets have now gained by a total of +9,583 contracts over these past three weeks and climbed into a net bullish position for the first time in eighteen weeks, dating back to June 9th. The dollar index price (DXY) has also been improving over the past six weeks (to above the 93 level) after hitting an approximate 3-month low in August at just above the 91.50 exchange rate.


Individual Currencies Data this week:

In the individual major currency contracts data, the major currencies that saw improving speculator positions on the week were the US dollar index (3,471 weekly change in contracts), British pound sterling (1,496 contracts), Canadian dollar (4,483 contracts), New Zealand dollar (1,400 contracts) and the Mexican peso (1,136 contracts).

The currencies whose speculative bets declined this week were the euro (-5,671 weekly change in contracts), Japanese yen (-1,126 contracts), Swiss franc (-924 contracts) and the Australian dollar (-6,993 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 437 3,471
EuroFx 168,637 -5,671
GBP -9,802 1,496
JPY 19,976 -1,126
CHF 12,172 -924
CAD -13,564 4,483
AUD 3,854 -6,993
NZD 6,490 1,400
MXN 22,478 1,136

 

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 totaled a net position of 168,637 contracts in the data reported through Tuesday. This was a weekly reduction of -5,671 contracts from the previous week which had a total of 174,308 net contracts.

 


British Pound Sterling:

 

The large British pound sterling speculator level recorded a net position of -9,802 contracts in the data reported this week. This was a weekly lift of 1,496 contracts from the previous week which had a total of -11,298 net contracts.

 


Japanese Yen:

 

Large Japanese yen speculators was a net position of 19,976 contracts in this week’s data. This was a weekly reduction of -1,126 contracts from the previous week which had a total of 21,102 net contracts.

 


Swiss Franc:

 

The Swiss franc speculator standing this week totaled a net position of 12,172 contracts in the data through Tuesday. This was a weekly lowering of -924 contracts from the previous week which had a total of 13,096 net contracts.

 


Canadian Dollar:

 

Canadian dollar speculators came in at a net position of -13,564 contracts this week. This was a advance of 4,483 contracts from the previous week which had a total of -18,047 net contracts.

 


Australian Dollar:

 

The large speculator positions in Australian dollar futures came in at a net position of 3,854 contracts this week in the data ending Tuesday. This was a weekly reduction of -6,993 contracts from the previous week which had a total of 10,847 net contracts.

 


New Zealand Dollar:

 

The New Zealand dollar speculative standing equaled a net position of 6,490 contracts this week in the latest COT data. This was a weekly gain of 1,400 contracts from the previous week which had a total of 5,090 net contracts.

 


Mexican Peso:

 

Mexican peso speculators totaled a net position of 22,478 contracts this week. This was a weekly lift of 1,136 contracts from the previous week which had a total of 21,342 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 slightly added to their bullish bets for 2nd straight week

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WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators advanced 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 472,797 contracts in the data reported through Tuesday October 13th. This was a weekly gain of 1,261 net contracts from the previous week which had a total of 471,536 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -7,854 contracts (to a weekly total of 649,933 contracts) while the gross bearish position (shorts) dropped by a larger amount of -9,115 contracts for the week (to a total of 177,136 contracts).

The crude oil speculators edged their net positions higher this week for a second straight week and for the fourth time in the past five weeks. This week’s gain brings the overall bullish standing to the highest level of the past six weeks. Speculators are slowing building their bullish position back after a sharp decline for five straight weeks (Aug. 11th to Sept. 8th) took off a total of -86,900 net contracts from the bullish standing.

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 -496,915 contracts on the week. This was a weekly shortfall of -8,551 contracts from the total net of -488,364 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 $40.2 which was a decline of $-0.47 from the previous close of $40.67, 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 Treasury Note Speculators edged their bullish bets higher, up for 5th time in 6 weeks

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10-Year Note Non-Commercial Speculator Positions:

Large bond speculators increased their bullish net positions in the 10-Year Note futures markets again 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 75,257 contracts in the data reported through Tuesday October 13th. This was a weekly gain of 5,744 net contracts from the previous week which had a total of 69,513 net contracts.

The week’s net position was the result of the gross bullish position (longs) decreasing by -43,266 contracts (to a weekly total of 585,180 contracts) while the gross bearish position (shorts) dropped by a larger amount of -49,010 contracts for the week (to a total of 509,923 contracts).

The 10-Year speculators slightly added to their net bullish bets this week and raised their wagers for the fifth time in the past six weeks. The rise in bullish positions follows a sharp decline last week when spec sentiment fell by -59,063 contracts. The overall standing has now been in bullish territory for six straight weeks (after a dip on Sept. 1st) and has been bullish in sixteen out of the past seventeen 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 -99,519 contracts on the week. This was a weekly decrease of -7,820 contracts from the total net of -91,699 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 $139.20 which was an advance of $0.16 from the previous close of $139.04, 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 cut back on their bullish bets for 1st time in 3 weeks

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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 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 240,671 contracts in the data reported through Tuesday October 13th. This was a weekly decrease of -7,916 net contracts from the previous week which had a total of 248,587 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 6,064 contracts (to a weekly total of 326,986 contracts) while the gross bearish position (shorts) rose by a larger amount of 13,980 contracts for the week (to a total of 86,315 contracts).

Gold speculators trimmed their bullish positions this week for this first time in three weeks. Over the previous two weeks, the bullish position had risen by approximately +30,000 net contracts and brought the overall standing to the highest of the past ten weeks. Despite this week’s decline, the net standing has remained above the +240,000 contract level for the three straight weeks and the bullish position has now been at least +200,000 net contracts for seventy consecutive weeks, dating back to June of 2019.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -284,655 contracts on the week. This was a weekly increase of 3,813 contracts from the total net of -288,468 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 $1888.50 which was a shortfall of $-12.60 from the previous close of $1901.10, 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 raised their bearish bets to 34-week high

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VIX Non-Commercial Speculator Positions:

Large volatility speculators boosted 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 -101,939 contracts in the data reported through Tuesday October 13th. This was a weekly change of -8,388 net contracts from the previous week which had a total of -93,551 net contracts.

The week’s net position was the result of the gross bullish position (longs) sinking by -1,907 contracts (to a weekly total of 36,963 contracts) while the gross bearish position (shorts) rose by 6,481 contracts for the week (to a total of 138,902 contracts).

VIX speculators increased their bearish positions higher this week for a second consecutive week. This rise has now pushed the overall bearish standing back over the -100,000 contract threshold and to the highest level of the past thirty-four weeks, dating back to February 18th. Despite the heavy turmoil that the coronavirus inflicted upon the markets this year, the VIX never flipped over into bullish territory as speculator positions have remained bearish now for ninety-two consecutive weeks, dating all the way back to January 8th of 2019.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 104,708 contracts on the week. This was a weekly advance of 9,676 contracts from the total net of 95,032 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 $26.88 which was a decline of $-4.67 from the previous close of $31.55, 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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