InvestMacro

By CountingPips.com – Get our weekly COT Reports by Email

US Dollar net speculator positions leveled at $-12.65 billion this week

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators cut back on bearish bets of the US dollar again this week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar net position totaling $-12.65 billion as of Tuesday October 17th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly rise of $2.77 billion from the $-15.42 billion total position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).

The aggregate speculative bearish position of the dollar has now declined for a third week and is at the least bearish level since September 12th. The dollar position has been in bearish territory for fourteen straight weeks after crossing into a bearish position on July 18th.

Weekly Speculator Contract Changes:

The individual major currencies saw two weekly changes above the (+ or -) 10,000 contract mark this week in the speculators category.

• British pound sterling positions fell by over -10,000 contracts this week after declining by over -4,000 the previous week. The GBP speculative bets remain in a small bullish position at +5,047 contracts.
• Mexican peso positions dropped by over -11,000 contracts and fell for a second week. Peso positions continue to be in a strong bullish position with total bets at +71,067 contracts.

The major currencies that improved against the US dollar this week were the Japanese yen (133 weekly change in contracts) and the New Zealand dollar (1,248 contracts).

The currencies whose speculative bets declined this week versus the dollar were the euro (-7,627 weekly change in contracts), British pound sterling (-10,461 contracts), Swiss franc (-669 contracts), Canadian dollar (-1,306 contracts), Australian dollar (-7,382 contracts), and the Mexican peso (-11,682 contracts).

Table of Weekly Commercial Traders and Speculators Levels & Changes:

 

This latest COT data is through Tuesday 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. 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:

British Pound Sterling:

Japanese Yen:

Swiss Franc:

Canadian Dollar:

Australian Dollar:

New Zealand Dollar:

Mexican Peso:

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).

The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The charts overlay the forex closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.) See more information and explanation on the weekly COT report from the CFTC website.

Article by CountingPips.com

By CountingPips.com – Receive our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Speculator Positions:

Large oil speculators raised 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 429,525 contracts in the data reported through Tuesday October 17th. This was a weekly lift of 12,464 contracts from the previous week which had a total of 417,061 net contracts.

Speculative WTI oil positions had fallen the previous two weeks before this week’s turnaround. Total net positions remain above the +400,000 net contract level for a fifth straight week.

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 -431,518 contracts on the week. This was a weekly fall of -11,348 contracts from the total net of -420,170 contracts reported the previous week.

USO:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the USO Crude Oil ETF, which tracks the price of WTI crude oil, closed at approximately $10.49 which was a rise of $0.21 from the previous close of $10.28, 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.com – Receive our weekly COT Reports by Email

By CountingPips.com – Receive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large treasury speculators reduced 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 106,291 contracts in the data reported through Tuesday October 17th. This was a weekly decline of -86,315 contracts from the previous week which had a total of 192,606 net contracts.

Speculative positions have dropped by -163,829 contracts over the past four weeks and are now at the lowest bullish level since April 18th when net positions were negative and totaled -41,300 contracts.

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 104,546 contracts on the week. This was a weekly advance of 89,841 contracts from the total net of 14,705 contracts reported the previous week.

IEF ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $106.64 which was an advance of $0.35 from the previous close of $106.29, 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.com – Receive our weekly COT Reports by Email

By CountingPips.com – Receive our weekly COT Reports by Email

Gold Non-Commercial Speculator Positions:

Large speculators slightly raised 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 200,724 contracts in the data reported through Tuesday October 17th. This was a weekly boost of just 612 contracts from the previous week which had a total of 200,112 net contracts.

Speculative positions had declined for the previous four weeks before this week’s small rise. Total gold speculative bets have continued to remain above the +200,000 net contract level for nine straight weeks.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -221,624 contracts on the week. This was a weekly advance of 1,373 contracts from the total net of -222,997 contracts reported the previous week.

GLD ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD ETF, which tracks the price of gold, closed at approximately $122.13 which was a loss of $-0.27 from the previous close of $122.4, 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.com – Receive our weekly COT Reports by Email

By CountingPips.com – Receive our weekly COT Reports by Email

S&P500 Non-Commercial Speculator Positions:

Large speculators slightly increased their net positions in the S&P500 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 S&P500 futures, traded by large speculators and hedge funds, totaled a net position of 336 contracts in the data reported through Tuesday October 17th. This was a weekly gain of 457 contracts from the previous week which had a total of -121 net contracts.

Speculative positions moved into a small bullish position this week after spending the previous two weeks in a small bearish level.

S&P500 Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -890 contracts on the week. This was a weekly drop of -365 contracts from the total net of -525 contracts reported the previous week.

SPY ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P500 Index, closed at approximately $255.47 which was a rise of $0.85 from the previous close of $254.62, 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.com – Receive our weekly COT Reports by Email

By CountingPips.com – Receive our weekly COT Reports by Email

Silver Non-Commercial Speculator Positions:

Large metals speculators increased their bullish net positions in the Silver 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 63,915 contracts in the data reported through Tuesday October 17th. This was a weekly increase of 4,807 contracts from the previous week which had a total of 59,108 net contracts.

Silver speculative positions had fallen for the previous four weeks before this week’s turnaround. The silver position remains in a strong bullish standing at the highest level since September 19th.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -74,913 contracts on the week. This was a weekly decline of -4,305 contracts from the total net of -70,608 contracts reported the previous week.

SLV ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $16.09 which was a drop of $-0.06 from the previous close of $16.15, 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.com – Receive our weekly COT Reports by Email

By CountingPips.com – Receive our weekly COT Reports by Email

Copper Non-Commercial Speculator Positions:

Large precious metals speculators sharply increased their bullish net positions in the Copper 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 Copper futures, traded by large speculators and hedge funds, totaled a net position of 51,487 contracts in the data reported through Tuesday October 17th. This was a weekly gain of 10,749 contracts from the previous week which had a total of 40,738 net contracts.

Copper speculative positions have risen for three straight weeks and are now at the highest standing since January 31st 2017 when net positions totaled +57,276 contracts.

Copper Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -54,714 contracts on the week. This was a weekly drop of -8,118 contracts from the total net of -46,596 contracts reported the previous week.

JJC ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the JJC iPath Bloomber Copper ETN, which tracks the price of copper, closed at approximately $36.60 which was a boost of $1.75 from the previous close of $34.85, 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.com – Receive our weekly COT Reports by Email

By George Prior

Brexit, Trump and the chaos in Catalonia are driving demand for multi-currency accounts – and within 10 years they will be the norm, affirms the boss of one of the world’s largest independent financial advisory organizations

The comments from Nigel Green, founder and CEO of deVere Group, come as deVere E-Money’s global money app, deVere Vault, which has 27 different currency wallets, reveals that it expects to surpass 40,000 downloads and users by the end of the year.

Mr Green asserts: “We’re living in an increasingly uncertain world.  Serious, far-reaching and ongoing geopolitical developments are driving internationally-minded people to concentrate on political risk and currency risk.

“Issues such as the deadlocked Brexit talks and what the post-Brexit era will look like, the unpredictability of the Trump presidency, and the chaos in Catalonia as it potentially moves towards independence from Spain, amongst many other geopolitical factors, present huge and sobering questions marks.

“This uncertainty is resulting in more and more people beginning to look at the possible impact such issues have on their wealth and how they can mitigate this risk.  Understandably, this is spiking huge interest in and demand for accounts in which you can hold money in different currencies.”

He continues: “Ever since the major and sustained drop in the pound immediately after the Brexit referendum, people have become more focused that they could have currency risk.

“It was a wake-up call to many across the world; it was a watershed moment.”

The deVere CEO concludes: “Multi-currency accounts will be the norm within 10 years – most people within a decade will have the ability to access, use and manage their money in different currencies  – for three main reasons.

“First, people have woken up to the fact that even ‘remote’ political risks can be linked to currency risk.

“Second, each year there are more and more expatriates and internationally-mobile people and businesses.

“Third, holidaymakers are increasingly aware of and unwilling to accept the rip-off charges their traditional banks impose on them for using their own money overseas.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

As we can see at the daily chart, the EUR/USD pair is still being corrected to the downside. By now, the correction has already reached the retracement of 23.6%. The next possible targets of the correction may be the retracements of 38.2% and 50.0 at 1.1510 and 1.1333 respectively.

At the H4 chart, the EUR/USD pair was corrected to the upside by 50.0% and then started forming another descending impulse. After breaking the local low at 1.1670, the price may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1590 and 1.1540 respectively.

USD JPY, “US Dollar vs. Japanese Yen”

At the weekly chart, the USD/JPY pair was corrected to the downside by 61.8% and then started forming another ascending wave. The main targets of this wave may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 122.90 and 125.60 respectively. The resistance level is close to the high at 118.61.

As we can see at the daily chart, the pair is testing this month’s high and trying to break it. The upside target area is inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 114.120 and 114.540 respectively.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Gabriel Ojimadu, Alpari