InvestMacro

By Gabriel Ojimadu, Alpari

Trading opportunities for the currency pair: On Friday, the exchange rate on this currency pair rebounded from the trend line and a bullish engulfing pattern appeared on the daily candlestick. The Stochastic (5,3,3) has reversed upwards in the buy zone. Taking these signals into account, I’m expecting to see some growth on the cross to 124.00. In order for this to come off, buyers need to break the 120.32 level on the hourly timeframe to open the way towards 121.15 level. This scenario will not play out if the daily candlestick closes below 118.50.

Background:

The previous idea on the EUR/JPY pair was published on the 31st of October 2016. At the time, the price was around the 114.98 mark and a triangular formation had appeared on the weekly chart. It was proposed to work towards the exit rate out of this formation. As the price exited upwards, we got a flat “a-b-c” with targets for wave “c” in the range 118.60 – 120.63, and 125.25 in the case of an elongated wave. Had the triangle continued to fill out, we would have expected the price to exit downwards with targets of 104.70 and 99.80.

On the 10^th of November, the rate broke through the upper boundary of the triangular formation. On the 23^rd of November, it reached 118.60 and hit 124.09 on the 15^th of December.

Current situation:

The Japanese currency began a phase of growth from 122.89 on the 13^th of March. Buyers’ efforts to push the price above the 123.00 mark came to nothing. Sellers held their own. Over the course of 6 trading days, the euro fell by 2.89% (356 pips) to 119.32 as traders closed their long positions.

In the last few days, the yen has strengthened on the back of traders’ fears relating to US president Donald Trump’s proposed economic measures. A vote in Congress on the new healthcare bill to dismantle Obamacare was pushed back from Thursday to Friday.

On Friday, the proposed legislation was dropped altogether from Congress’ agenda due to a lack of support from Republicans. The US media labelled this a humiliating defeat for Donald Trump’s administration, while the opposition hailed it as their own victory. By the end of the day, the yen had closed up.

Now, let’s look at the current situation. The price has bounced off the trend line, which starts from the minimum 112.60 (21/10/16). During this rebound, a bullish engulfing formation appeared on the candlestick. The Stochastic (5,3,3) has reversed upwards in the buy zone. Taking these signals into account, I’m expecting to see some growth up to 124.00. The 122.55 level will act as an intermediate resistance.

In order for this scenario to play out, buyers need to break through the 120.32 mark on the hourly timeframe, which will open the way to 121.15. After this, they will aim for a target of 122.55. Further dynamics on the pair will depend on the struggle at 119. The yen is currently a safe haven for risk averters. On Monday, the cross opened down. At the moment, the pair is trading above the trend line and it’s worth considering a rise in quotes. The potential for the euro’s growth will disappear if the daily candlestick closes lower than 118.50 (under the current price model, a false breakthrough is possible).

Emmanuel Macron has strengthened his position since the televised presidential debates. He is now the favourite to win the second round of voting in the French presidential election.

By GrowthAces.com

Macroeconomic overview: President Donald Trump suffered a stunning political setback on Friday in a Congress controlled by his own party when Republican leaders pulled legislation to overhaul the U.S. healthcare system, a major 2016 election campaign promise of the president and his allies.

House of Representatives leaders yanked the bill after a rebellion by Republican moderates and the party’s most conservative lawmakers left them short of votes, ensuring that Trump’s first major legislative initiative since taking office on January 20 ended in failure. Democrats were unified against it.

House Republicans had planned a vote on the measure after Trump late on Thursday cut off negotiations with Republicans who had balked at the plan and issued an ultimatum to vote on Friday, win or lose. But desperate lobbying by the White House and Republican House Speaker Paul Ryan was unable to round up the 216 votes needed for passage.

The dollar slid to a near two-month low against a basket of currencies on Monday as concerns mounted about the chances of U.S. fiscal stimulus after President Donald Trump’s failure to push through a healthcare reform bill. Trump’s inability to deliver on a major election campaign promise raised doubts whether he will be able to push through tax reforms and mega-spending packages.

William Dudley, president of the New York Fed, said delicate interest-rate hikes are necessary given the economy is stable and any further fall in unemployment could lead to an inflation run-up.

St. Louis Federal Reserve Bank President James Bullard on Friday said he would be “okay” with a second rate hike this year, but reiterated his view that the Fed would not need much more to keep inflation in check. Bullard argued Friday the Fed has time to wait and see if fiscal policies give a boost to productivity growth, and thus to overall economic growth, adding that revenue-neutral tax reform and deregulation were among policies that could have a positive impact.

San Francisco Fed President John Williams said on Friday that the Federal Reserve is not trying to push inflation higher to compensate for years of weak price increases, but aiming instead to ensure its 2% target is viewed credibly. He added that Fed officials’ recent statements that the U.S. central bank was willing to allow above-target price increases were intended to ensure that expectations do not slip.

Technical analysis: The EUR/USD bullish trend is continued. The rate is testing the resistance at 1.0872, December’s high. A break above this level would open the way to at least 1.0976 (50% fibo of May-January drop). An ambitious bulls’ target is 1.1125 (61.8% fibo).

Short-term signal: We have taken profit on our short-term long position. We will be looking to open another long at 1.0780.

Long-term outlook: Our long-term strategy remains intact – we stay long for 1.1125.

SILVER: Profit taken on long position

Short-term signal: We closed our long position on XAGUSD at 17.93, slightly below our initial target. Long-term outlook remains bullish and we will be looking to buy XAGUSD again on dips.

TRADING STRATEGIES SUMMARY:

FOREX – MAJOR PAIRS:

FOREX – MAJOR CROSSES:

PRECIOUS METALS:

It is usually reasonable to divide your portfolio into two parts: the core investment part and the satellite speculative part. The core part is the one you would want to make profit with in the long term thanks to the long-term trend in price changes. Such an approach is a clear investment as you are bound to keep your position opened for a considerable amount of time in order to realize the profit. The speculative part is quite the contrary. You would open a speculative position with short-term gains in your mind and with the awareness that even though potentially more profitable than investments, speculation is also way more risky. In typical circumstances investments should account for 60-90% of your portfolio, the rest being speculative positions. This way, you may enjoy a possibly higher rate of return than in the case of putting all of your money into investment positions and at the same time you may not have to be afraid of severe losses in the short-term.

How to read these tables?

1. Support/Resistance – three closest important support/resistance levels
2. Position/Trading Idea:
BUY/SELL – It means we are looking to open LONG/SHORT position at the Entry Price. If the order is filled we will set the suggested Target and Stop-loss level.
LONG/SHORT – It means we have already taken this position at the Entry Price and expect the rate to go up/down to the Target level.
3. Stop-Loss/Profit Locked In – Sometimes we move the stop-loss level above (in case of LONG) or below (in case of SHORT) the Entry price. This means that we have locked in profit on this position.
4. Risk Factor – green “*” means high level of confidence (low level of uncertainty), grey “**” means medium level of confidence, red “***” means low level of confidence (high level of uncertainty)
5. Position Size (forex)– position size suggested for a USD 10,000 trading account in mini lots. You can calculate your position size as follows: (your account size in USD / USD 10,000) * (our position size). You should always round the result down. For example, if the result was 2.671, your position size should be 2 mini lots. This would be a great tool for your risk management!
Position size (precious metals) – position size suggested for a USD 10,000 trading account in units. You can calculate your position size as follows: (your account size in USD / USD 10,000) * (our position size).
6. Profit/Loss on recently closed position (forex) – is the amount of pips we have earned/lost on recently closed position. The amount in USD is calculated on the assumption of suggested position size for USD 10,000 trading account.
Profit/Loss on recently closed position (precious metals) – is profit/loss we have earned/lost per unit on recently closed position. The amount in USD is calculated on the assumption of suggested position size for USD 10,000 trading account.
About the Author:

By GrowthAces.com – Daily Forex Trading Strategies

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has failed to continue growing according to an alternative scenario and right now is trading to break the low of the first descending impulse. Possibly, the price may form the third wave to reach 1.0735. Later, in our opinion, the market may be corrected towards 1.0765 and the continue falling with the target at 1.0705. This wave may be considered as the first one inside the downtrend.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has failed to continue moving according to an alternative scenario and expand the structure, so the correction completed. Right now, the market is forming another structure towards 1.2419. Possibly, today the price may start forming the first wave with the target at 1.2322.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has completed the ascending impulse along with the correction and right now is growing inside the third wave with the local target at 0.9979. Later, in our opinion, the market may be corrected towards 0.9944 and then resume moving upwards to reach 1.0000. In fact, the instrument is forming the first wave inside the uptrend.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed the ascending impulse and the correction. Possibly, today the price may form the second ascending impulse. The target of the wave is at 112.03. After that, the instrument may be corrected towards 111.35.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has reached the predicted downside target by forming the third wave structure. The structure of the third wave implies that it may reach 0.7606. Later, in our opinion, the market may be corrected towards 0.7645 and then start the fifth wave with the target at 0.7541.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is falling towards 56.89. After that, the instrument may return to 57.55 and then continue falling with the target at 55.42.

XAU USD, “Gold vs US Dollar”

Gold is trading to break the low of the first descending impulse. Possibly, the price may form another descending wave to break 1195. The target of the first wave is at 1224. Later, in our opinion, the market may be corrected towards 1238.

BRENT

Brent is consolidating near its lows. If later the market breaks this consolidation range to the downside, it may reach 49.52 and then start growing towards the first target at 52.80; if to the upside – continue moving upwards with the target at 52.80.

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

By Dan Steinbock  

Chinese robotics is positioned for leadership in global robotics, as the emerging industry is moving toward increasing rivalry and consolidation.

In the new and emerging industry, the rise of innovative robotics startups heralds the future. In 2016, almost 130 companies were funded by venture capital, including China-based RooBo, Israeli Roboteam, and German ReActive Robotics. While the most valuable deals involved unmanned aerial systems companies (read: drones), they were followed by agricultural robotics, service robots for businesses and personal use.

The total amounted to almost $2 billion; over 50 percent more than in 2015 – itself a record year.

Emerging high-growth industry

As emerging industries diffuse to mass markets, innovative startups typically become acquisition targets by major corporations that seek to consolidate the rapidly-growing industry. Last year was a milestone for such acquisitions in robotics and automation with 50 companies sold for more than $19 billion.

The top five transactions totaled more than $1 billion each, including German KUKA, which was bought by Chinese Midea; the Luxembourg-based Dematic (German Kion Group); and the US-based Intelligrated (American Honeywell).

Aiming at leadership, KUKA is pausing its acquisition spree to absorb new businesses. As a winning German company, it was known for reliability. As a winning Chinese company in global markets, it must achieve lower costs.

As evidenced by the boom of innovative startups, venture capital funding and industry acquisitions, global robotics is the new technology frontier.

Past investments by Chinese industry leaders, central and local government agencies and universities are paying off. In 2016, industrial robots beat all other categories in terms of output growth – integrated circuits, motor vehicles and mobile telephones – expanding by more than 30 percent.

Rising global rivalry

Until recently, Chinese industrial robots were still relatively simple compared to such players as Japan’s Fanuc or Switzerland’s ABB. Two of three industrial robots that were purchased by Chinese factories from abroad, and most Chinese companies depended on imported foreign components.

Today, China is rebalancing from a low-cost ‘world factory’ to a world-class advanced-manufacturing power, which is precipitated by new technology-related initiatives, including Strategic Emerging Industries (SEI), Sci-Tech Innovation 2030, Internet Plus, and Made in China 2025. At the same time, Chinese industry leaders are moving from low prices to world-class innovation.

But market leadership will not come without competitive friction. And as global robotics is approaching consolidating phase, rivalries are about to become tougher.

In 2015, worldwide sales of industrial robots soared to 254,000 units. Almost two of three were sold in Asia; nearly half of these in China, and the rest elsewhere in Asia and Australia. In professional service robots, sales value rose to $4.6 billion; in personal service robots to $2.2 billion.

In global robotics, the key rivals feature the US, Japan (and to a degree, Korea), Europe and China. The US is most capital-intensive. Japan stresses innovation. Western Europe exemplifies greatest intensity (high ratio of robots per population).

Nevertheless, as the largest growth market, China is moving toward production leadership. US dominance in the automotive industry is no longer immune to competition, as evidenced by the 2016 purchase of US-based Paslin by Zhejiang Wanfeng, a subsidiary of a Chinese car parts supplier. The KUKA acquisition is boosting Midea in rivalry with Japanese innovation.

In 2015, markets were dominated by European and North America (80%), as against Asia (20%). Yet, the uptake of industrial robots in is accelerating regionally. In the first half of the 2010s, the annual supply of industrial robots rose by 70 percent in Asia/Australia. In 2015, China’s robot density was ranked only 28th in the world, but it is targeted to more than quadruple by 2020, as Chinese industry leaders said in the recent robotics summit in Shanghai.

Regional rivalries

Moreover, the regional strengths of incumbent robotics leaders are eroding, due to international uncertainty and the new US protectionism. Despite slow recovery, impending European elections suggest that regional disintegration remains a risk and complicates industry leaders’ efforts to achieve scale and scope in the region.

While three of four units in the NAFTA area (US, Canada, Mexico) are sold in America, the White House’s new protectionism has potential to undermine the very market US multinationals rely on for their leadership, as well as their sales in growth markets, such as China. Due to its deepening stagnation, Japan needs solid external growth, which was expected from the Trans-Pacific Partnership (TPP) that the US exited in January.

Conversely, China’s large-scale capital markets are still in their early phase and have a lot of room to grow, unlike in the US. The same goes for Chinese robotics density, unlike in Europe. Relative to Japan, China continues to grow 4-5 times faster. And while Washington is pushing for new barriers, Beijing is pushing for new globalization and regional growth (One Road One Belt Initiative), both of which will facilitate rapid rise of new industries.

Indeed, the fundamentals of the emerging industry and economic realities are supporting the rise of Chinese robotics in a way that is no longer possible for other major industry players.

About the Author:

Dr Steinbock is the founder of the Difference Group and has served as the research director at the India, China, and America Institute (USA) and a visiting fellow at the Shanghai Institutes for International Studies (China) and the EU Center (Singapore). For more information, see http://www.differencegroup.net/

The original commentary was published by China Daily on March 24, 2017

By Jason Hamlin, GoldStockBull.com

Republicans were forced to pull their bill to replace Obamacare from the floor of the GOP-controlled House today, lacking sufficient support. This has helped to push gold higher, but technical resistance has held thus far.

Gold has been in rally mode lately after a v-shaped correction and recovery during the month of March. In the first week of the month, gold declined and closed lower for six straight days. But it bottomed around support at $1,200 and has since notched six straight days of gains (hollow candles on the chart). This also marks the second weekly gain for gold.

The gold price remains in an uptrend at roughly the middle mark of the trend channel. Gold bulls need to see the price close above $1,250 and then climb above the 2017 high and 200-day moving average just above $1,260. This would indicate that the price is ready to start moving higher once again and give a green light to increase exposure.

It is interesting to note that gold has made three separate attempts to close above $1,250 and was denied each time.  The Kitco 3-day chart helps to illustrate just how powerfully the $1,250 level has been defended. Each attempt to climb above $1,250 was met with selling pressure and a sharp decline that completely wiped out the prior gain.

If there is a concerted effort by paper shorts to hold the price below $1,250, they will probably succeed in doing so through next week when gold futures and options expire. So, I will be looking for price consolidation and a bit of a pullback in the coming days, followed by a breakout in early April.

Gold’s recent move higher has been driven partly by doubts about the ability of U.S. President Donald Trump to push legislation through Congress for healthcare and tax reform. This news pushed the dollar to seven-week lows. Importantly, the USD index has once gain fallen below the important 100 level.

I will be looking for the USD index to make a new lower 2017 low in the weeks ahead, which would confirm a new downtrend. The RSI momentum indicator is nearing oversold levels though, so we could see a near-term bounce. Either way, it is starting to look like the H@ 2016 USD rally may be coming to an end. Everyone has been long the dollar, so as a contrarian I am not surprised to see the rally fizzle.

Republicans were forced to pull their bill to replace Obamacare from the floor of the GOP-controlled House today, lacking sufficient support.In an 11th hour move, with under a half hour before the House was set to vote, President Trump asked House leaders to cancel today’s vote. There is plenty of finger-pointing and bickering as not a single Democrat crossed the aisle to support the repeal.

The more important implication is the fact that without repealing Obamacare, President Trump’s promise of major tax reform becomes much less likely. The two pieces of legislation are interwoven and it will be nearly impossible for Trump to overhaul the tax system without also overhauling healthcare.

This comes after a sharp drop in the stock market earlier in the week, that some believe is a sign of things to come. If Trump in unable to live up to his campaign pledges, then the market will need to correct from the false Trump rally. This implies lower stock prices and higher gold prices ahead.

We are monitoring key pivot points in the gold and silver price for our subscribers and awaiting the proper signal to add to our positions. There are a number of junior gold and silver miners that are oversold and undervalued at current levels. Recent high-grade intercepts have gone unappreciated by a market in consolidation mode, but this will change soon. Get all of our picks, full portfolio, trade alerts, monthly newsletter and more by signing up here.

About the Author:

By Jason Hamlin, GoldStockBull.com

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

US Dollar net speculator positions leveled at $18.44 billion last 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 increased their bullish bets for the US dollar last week to the highest level in seven weeks.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $18.44 billion as of Tuesday March 21st, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly gain of $0.85 billion from the $17.59 billion total long 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).

Bullish speculative bets have now risen for three straight weeks and to the highest level since January 31st when total bullish positions equaled $18.47 billion.

Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar last week were the euro (21,365 weekly change in contracts), Japanese yen (4,310 contracts), Australian dollar (1,690 contracts) and the Mexican peso (2,186 contracts).

The currencies whose speculative bets declined last week versus the dollar were the Canadian dollar (-45,861 weekly change in contracts), New Zealand dollar (-7,005 contracts), Australian dollar (1,690 contracts), Swiss franc (-2,982 contracts) and the British pound sterling (-727 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 – Get our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Positions:

Large speculators and traders continued to cut back on their bullish net positions in the WTI crude oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial contracts of WTI crude futures, traded by large speculators and hedge funds, totaled a net position of 418,517 contracts in the data reported through March 21st. This was a weekly decline of -15,283 contracts from the previous week which had a total of 433,800 net contracts.

WTI speculators have now reduced their net positions for a fourth straight week after pushing their bullish bets to a record high level of 556,607 contracts on February 21st.

WTI Crude Oil Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -433,437 contracts last week. This is a weekly change of 13,969 contracts from the total net of -447,406 contracts reported the previous week.

USO Crude Oil ETF:

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 $10.11 which was a fall of $-0.08 from the previous close of $10.19, according to ETF market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous 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

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

10 Year Treasury Note Non-Commercial Positions:

Large speculators sharply decreased their bearish net positions in the 10-year treasury note futures markets last week for the third straight 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 treasury note futures, traded by large speculators and hedge funds, totaled a net position of -100,354 contracts in the data reported through March 21st. This was a weekly change of 94,038 contracts from the previous week which had a total of -194,392 net contracts.

Speculative bearish positions have been cut by roughly 100,000 contracts each of the past three weeks and bearish levels are now at the lowest point since November 29th when bearish net positions equaled -96,267 contracts.

10 Year Treasury Note Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 327,185 contracts last week. This is a weekly change of -84,804 contracts from the total net of 411,989 contracts reported the previous week.

IEF 7-10 Year Bond ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.33 which was a gain of $1.50 from the previous close of $103.83, according to ETF market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous 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

By CountingPips.com

Here is a short summary and this week’s links (below) to the latest Commitment of Traders changes.

• This week’s COT results showed that Large Speculators increased their bullish bets in favor of the US dollar last week for the third week and to the highest level since January 31st.

• In the other major markets, WTI Crude speculators reduced their bullish bets for a fourth week following their record high bullish position on February 21st.

• The 10-year note speculators, for a third straight week, sharply reduced their bearish bets after reaching a record high short position of over -400,000 contracts a month ago.

• Bearish bets have been decreased by just about 100,000 contracts in each of the last three weeks.

• In metals, gold speculators increased their bullish bets after declining for two weeks while silver speculators cut their bullish bets for a third week. Copper bets continued to decline for the seventh straight week.

• Finally, S&P500 speculators continued to raise their bullish bets higher in S&P500 futures for a sixth straight week and to a new highest level since mid-December.

Forex Speculators raised US Dollar bullish positions to 7-week high

US Dollar net speculator positions leveled at $18.44 billion last 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 increased their bullish bets for the US dollar last week to the highest level in seven weeks. See full article

WTI Crude Oil Speculators cut bullish net positions for 4th straight week

The non-commercial contracts of WTI crude futures totaled a net position of 418,517 contracts, according to data from last week. This was a decline of -15,283 contracts from the previous weekly total. See full article

Gold Speculators boosted bullish net positions after 2 down weeks

The large speculator contracts of gold futures advanced to a total net position of 116,252 contracts. This was a weekly rise of 10,214 contracts from the previous week. See full article

10 Year Treasury Note Speculators sharply reduced bearish net positions for 3rd week

The large speculator contracts of 10-year treasury note futures totaled a net position of -100,354 contracts. This was a weekly change of 94,038 contracts from the previous week. See full article

S&P500 Speculators continued to raise their bullish net positions for 6th week

The large speculator contracts of S&P 500 futures totaled a net position of 9,943 contracts. This was a gain of 1,593 contracts from the reported data of the previous week. See full article

Silver Speculators reduced net bullish positions for 3rd week

The non-commercial contracts of silver futures totaled a net position of 79,112 contracts, according to data from last week. This was a weekly shortfall of -3,766 contracts from the previous totals. See full article

Copper Speculators edged bullish net positions lower, down for 7th week

The large speculator contracts of copper futures totaled a net position of 21,670 contracts. This was a weekly edge lower by -769 contracts from the data of the previous week. See full article

Article by CountingPips.com

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

To learn more about this data please visit the CFTC website at http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm