COT Report: Speculators trim USD Index bets off 2-YR high. 10-YR bearish bets hit 89-week low

October 12, 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 reduced their US Dollar Index bullish bets for the first time in seven weeks and off of the 2-year highs. The USD has been on a strong run and even counting this week’s decline, the USD has gained in twelve out of the past fifteen weeks.

The New Zealand dollar positions also came off their record bearish positions (over -40,000 contracts) of last week as the large speculator position gained by about +4,000 contracts this week.

The 10-Year Bond speculators continued to reduce their bearish bets for the fifth straight week and pushed the net position to the least bearish level in 89 weeks. Specs have now cut their bearish bets by a total of 255,307 contracts in just the past five weeks.

VIX speculators decreased their bearish positions for the first time in six weeks this week. Previously, the VIX spec bearish position had been sharply accelerating and rose to the most bearish level since the April 30th record high position.


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Precious metals speculators were back to adding to their Gold bullish positions this week after a sharp selloff last week by over -40,000 contracts.

Silver speculator bets rebounded slightly this week after speculators had trimmed their bets for four straight weeks.

Copper speculators continued to add to their bearish positions for a third consecutive week with contracts rising to highest bearish level since the recent record bearish high on September 3rd at a total of -58,841 contracts.

Lastly, the WTI Crude Oil speculators once again sharply cut back on their bullish bets by at least -34,000 contracts for a second straight week and overall, the net position has fallen for a fourth straight week. The overall net position is now at its lowest level since June 11th.


Currency Speculators trim US Dollar Index bullish bets, push Euro bets more bearish

Large currency speculators reduced 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.


WTI Crude Oil Speculators sharply cut their bullish bets, down for 4th week

The large speculator contracts of WTI crude futures totaled a net position of 355,085 contracts, according to the latest data this week. This was a change of -34,234 contracts from the previous weekly total. See full article.


10-Year Note Speculators pared bearish bets for 5th week, lowest level in 89 weeks

Large speculator contracts of the 10-Year Bond futures totaled a net position of -122,560 contracts, according to the latest data this week. This was a change of 41,050 contracts from the previous weekly total. See full article.


Gold Speculators lifted their bullish bets after last week’s sharp decline

Large precious metals speculator contracts of the Gold futures totaled a net position of 275,563 contracts, according to the latest data this week. This was a change of 6,570 contracts from the previous weekly total. See full article.


VIX Speculators cut back on their bearish bets for 1st time in 6 weeks

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -138,680 contracts, according to the latest data this week. This was a change of 16,175 contracts from the previous weekly total. See full article.


Silver Speculators edged their bullish bets higher after 4 down weeks

Large precious metals speculator contracts of the silver futures totaled a net position of 50,754 contracts, according to the latest data this week. This was a change of 939 contracts from the previous weekly total. See full article.


Copper Speculators raised their bearish bets for a third week

Metals speculator contracts of the copper futures totaled a net position of -48,093 contracts, according to the latest data this week. This was a change of -1,320 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).