COT Report: Euro, AUD & GBP bets fall. Speculators cut Metals & Crude Oil bets

May 25, 2019

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Here are this week’s links to the latest Commitment of Traders data changes that were released on Friday.

This week in the COT data, we continued to see deeper levels of bearishness in a two of the most prominent precious metals (Copper, Silver) while the Gold positions saw their bullish bets sharply pull back.

The VIX, which has been one of the most interesting markets to watch, had bearish bets rising again after two really sharp reductions in the previous weeks that followed a record high bearish level on April 30th.

The S&P500-Mini contract has seen improving speculator positions but it has been because short positions (short covering) have been retreating from the market. Despite that, the net bullish position is now at the best level since January 8th.

The 10-Year Bond speculators continued to bet against bonds rising and pushed their bearish bets to the highest level since November. Despite their bearishness, bond prices have risen to the highest levels since November 2017 while bond yields have continued lower (this week around 2.32%).


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WTI Crude oil speculators cut back on bullish bets for a 4th week but remain strongly bullish.

In currencies, the USD Index bets rose slightly and GBP bets fell strongly. Japanese yen bets continued to modestly improve while the euro and the Australian dollar fell deeper into bearish territory.


US Dollar Index Speculators edged bets higher. British Pound bets fall sharply

Large currency speculators lifted 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 dropped their bullish bets for 4th straight week

The large speculator contracts of WTI crude futures totaled a net position of 478,398 contracts, according to the latest data this week. This was a change of -9,410 contracts from the previous weekly total. See full article.


10-Year Note Speculators boosted their bearish bets to highest since November

Large speculator contracts of the 10-Year Bond futures totaled a net position of -423,351 contracts, according to the latest data this week. This was a change of -70,534 contracts from the previous weekly total. See full article.


Gold Speculators sharply lowered their bullish bets by most in 5 weeks

Large precious metals speculator contracts of the Gold futures totaled a net position of 88,805 contracts, according to the latest data this week. This was a change of -35,731 contracts from the previous weekly total. See full article.


S&P500 Mini Speculators lifted bullish bets for 3rd time in 4 weeks

Large stock market speculator contracts of the S&P500 mini futures totaled a net position of 100,755 contracts, according to the latest data this week. This was a change of 6,866 contracts from the previous weekly total. See full article.


VIX Speculators resumed adding to their bearish bets this week

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -105,320 contracts, according to the latest data this week. This was a change of -15,624 contracts from the previous weekly total. See full article.


Silver Speculators sharply boosted bearish bets to most since November

Large precious metals speculator contracts of the silver futures totaled a net position of -14,662 contracts, according to the latest data this week. This was a change of -12,453 contracts from the previous weekly total. See full article.


Copper Speculator bets slid further into bearish territory this week

Metals speculator contracts of the copper futures totaled a net position of -21,719 contracts, according to the latest data this week. This was a change of -2,353 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).