InvestMacro

By Orbex

The week ahead will see a pickup in activity. The economic calendar stands out with the Bank of Canada and the Federal Reserve due to hold their respective monetary policy meetings.

On the economic front, there is plenty of data to keep traders busy. Australia will be coming out with the third quarter inflation report. The data on inflation continues later in the week, with the Eurozone releasing the flash inflation estimates for October.

On the monetary policy front, the Bank of Canada, Bank of Japan and the Federal Reserve will be holding their respective monetary policy meetings. Among the three, investors are almost certain that the Fed will cut rates this week.

The outlier remains the monetary policy decision from Japan. The BoJ has been hinting at further policy easing. But with the October sales tax just coming into effect, it could buy the central bank some more time.

Here’s a brief look at the key economic events coming up for the week ahead.

Expect a Busy Week for the USD

The economic calendar for the United States is quite busy. Besides the Fed meeting, a number of economic reports are also due over the week. This includes the high impact jobs report and the ISM’s manufacturing PMI numbers due on Friday.

Investors Expect a Quarter Point Cut

The Fed funds rate is likely to be lowered by a quarter basis point this week. The CME Group’s Fed Watch tool has a 94% probability for a rate cut. This would bring the Fed funds rate down to 1.50% – 1.75%.

This week’s rate cut, if the Fed follows through, will mark the third cut to interest rates this year. The pace of rate cuts is rapid. The Fed began cutting rates by initially noting that it was just a mid-cycle correction.

GDP, ISM, Nonfarm Payrolls

A number of economic reports are also due this week for the USD. It starts with the advance GDP report that is due out on Wednesday. The GDP data comes a few hours ahead of the FOMC meeting.

The US economy is set to slow in the third quarter. Economists forecast that the GDP will rise just 1.5% – 1.8% during the period. It marks a slower pace of increase comparing to the 2.0% increase in GDP in the second quarter.

On Friday, the Institute of Supply Management (ISM) will be coming out with the monthly manufacturing PMI. Manufacturing activity is contracting for two consecutive months now.

The payrolls report will also keep volatility alive. Investors expect the unemployment rate to slightly rise. Wage growth is also forecast to show a modest increase.

Canada’s GDP and BoC Meeting

A somewhat busy week for Canada comes on the back of the recently concluded federal elections. The final revised GDP estimates for the third quarter come later in the week after the BoC’s meeting.

So far, the economic outlook for Canada remains on a somewhat firm footing comparing to its peers. But still, given the global headwinds, we could expect the Bank of Canada to tread cautiously.

BoC to Keep Interest Rates Steady

No changes are expected from the Bank of Canada as we head into the monetary policy meeting this week. BoC’s overnight rate stands steady at 1.75%. This marks nearly eight months of no change to interest rates.

The Bank of Canada will also be holding a press conference later. Before the meeting, the central bank will be releasing its monetary policy report. This could outline the BoC’s view on the economy and rates.

Q3 GDP to Remain Steady

Statistics Canada will be releasing the quarterly GDP numbers on Thursday. This will be the final GDP estimates for the three months ending September. The year over year change in GDP is 1.2%.

The GDP advanced 0.9% in the second quarter. This was one of the strongest paces of increase in growth. For the third quarter, Canada’s annual GDP is set to advance by 1.8%.

By Orbex

By The Life Science Report

Source: Streetwise Reports   10/24/2019

Shares of Varian Medical Systems traded 10% higher at times today after the company reported quarterly and annual earnings. The company increased revenue 10% year-over-year and provided FY/20 guidance.

Yesterday afternoon medical device maker Varian Medical Systems Inc. (VAR:NYSE) announced fourth quarter and full year unaudited earnings for the period ending September 27, 2019. The company further advised in the report of the appointment of a new president of Interventional Oncology Solutions and a new Chief Financial Officer both from within the company.

During Q4/19 the firm reported that total company revenues grew by 10% to $879 million compared to Q4/18. During the same period, GAAP operating earnings declined 3% and Non-GAAP operating earnings grew by 13%. The firm stated that Q4/19 GAAP and Non-GAAP net earnings per diluted share were $0.97 and $1.21 respectively. The company noted that “tariff exclusions had a $21 million benefit to revenues, a $4 million benefit to cost of revenues and a $2 million expense triggered by receiving the exclusion, with a net benefit to Non-GAAP operating earnings of $23 million.”

For full-year 2019, total company revenues grew 10% to $3.2 billion. The company advised that GAAP operating earnings declined 7% and Non-GAAP operating earnings grew 6%. The firm indicated that FY/19 GAAP and Non-GAAP net earnings per diluted share were $3.38 and $4.63 respectively.

The company announced that effective December 1, 2019, Gary E. Bischoping, Jr., currently SVP, Finance & CFO, will take on a new role as President of Interventional Oncology Solutions. Additionally, J. Michael Bruff, currently SVP Finance and Investor Relations, will succeed Bischoping as SVP, Finance & CFO.

Varian’s CEO Dow Wilson commented, “This is the second consecutive fiscal year we have reported double-digit revenue growth and 9% Oncology orders growth; our core business is strong and being powered by our continuous innovation cycle, and our acquisitions are delivering on growth expectations. . .While we have more work to do in sharpening our execution, our order and revenue growth has us looking forward to the next fiscal year. We have strong momentum exiting our fourth quarter and our long-term growth and value creation strategy is delivering for patients, clinicians and our shareholders.”

The company also provided full-year 2020 guidance in the report. The firm estimates that, for FY/20, revenues will increase by 9 to 12% to a range of $3.515 to $3.612 billion. For FY/20 the company estimates Non-GAAP net earnings per diluted share of $5.30 to $5.45.

Varian Medical Systems is headquartered in Palo Alto, Calif., and employees 9,200 in 70 countries. The firm is a developer and manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, cardiac radioablation, radiosurgery, proton therapy and brachytherapy. The company claims that it harnesses advanced technologies like artificial intelligence, machine learning and data analytics to enhance cancer treatment and expand access to patient care.

Varian has a market capitalization of about $10.7 billion with approximately 91 million shares outstanding. VAR shares opened higher today at $128.91 (+$11.51, +9.80%) over yesterday’s $117.40 closing price. The stock has traded between $124.54 to $135.46 per share today and currently is trading at $126.88 (+9.48, +8.07%).

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: VAR:NYSE,
)

By CentralBankNews.info
    This week – October 27 through November 2 – central banks from 14 countries or jurisdictions are scheduled to decide on monetary policy: Kazakhstan, Armenia, Malawi, Moldova, Canada, United States, Brazil, Fiji, Japan, Botswana, Mozambique, Bulgaria, Dominican Republic and Colombia.
    In addition to these banks, the central banks that fully or partly peg their currencies to the U.S. dollar also set monetary policy after the Federal Reserve, including Saudi Arabia, Kuwait, the UAE, Bahrain, Qatar, Jordan, Hong Kong and Macao.
    Following table includes the name of the country, the date of the next policy decision, the current policy rate, the result of the last policy decision, the change in the policy rate year to date, and the rate one year ago.

By The Life Science Report

Source: Streetwise Reports   10/25/2019

Shares of respiratory medical device maker and software applications company ResMed Inc. traded 15% higher at times today after the firm posted positive Q1/20 earnings results.

Developer and manufacturer of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, ResMed Inc. (RMD:NYSE; RMD:ASX), announced results for its first quarter 2020 ended September 30, 2019.

The company reported that revenue in Q1/20 increased 16% to $681.1 million compared to $588.3 million Q1/19, and that gross margin expanded 120 basis points to 59.5%, up from 58.3% in Q1/19. For Q1/20 the firm stated that net income increased 14% to $120.1 million, resulting in GAAP diluted earnings per share of $0.83. Q1/20 non-GAAP diluted earnings per share were listed as $0.93.

ResMed’s CEO Mick Farrell commented, “Our global ResMed team delivered another quarter of strong performance in the first quarter of fiscal year 2020 with double-digit topline revenue growth, balanced growth across our businesses and regions, and further improvements in operating leverage resulting in double-digit growth at the bottom line…We were particularly pleased that strong customer demand for our new products drove high-teens growth in the mask category during the quarter. Through organic growth and targeted acquisitions, we’re driving forward every facet of our business, leading the innovation of devices and software that improve health outcomes, create efficiencies, and reduce overall healthcare system costs. We’re well on our way to improving 250 million lives in out-of-hospital healthcare in 2025.”

The company highlighted in the report that revenue in the U.S., Canada, and Latin America, excluding Software as a Service, grew by 13% and combined Europe, Asia and other markets grew by 8%. ResMed noted that Software as a Service revenue increased by 83% in Q1/20 compared to Q1/19 due to continued growth in Brightree service offerings and incremental contribution from the acquisition of MatrixCare, which closed in Q2/19.

ResMed, which is headquartered in San Diego, Calif., develops, manufactures, distributes and markets medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases. The firm states that it “pioneers innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives… by enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 120 countries.”

ResMed has a market cap of around $18.4 billion with approximately 143.8 million shares outstanding. RMD shares opened higher today at $145.00 (+$17.27, +13.52%) over yesterday’s closing price of $127.73. The stock has traded between $141.29 -147.37 per share today and currently is trading at $144.71 (+$16.98, +13.29%).

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: RMD:NYSE,
)

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

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 a third straight week following a streak of six straight weekly gains that had pushed USD index bets to 2-year highs.

Japanese yen bets fell sharply this week and deeper into overall bearish territory for a second week. Euro bets surged higher by over +25,000 contracts this week while British pound sterling bets and Canadian dollar bets also gained by over +20,000 contracts on the week.

Precious metals speculators raised their Gold bullish positions this week after strong declines over the past three weeks (previous 3-week total decline of -59,417 contracts).

Silver speculators increased their bullish bets this week for second time in the past three weeks after a streak of four straight declining weeks.

Copper speculators cut back on their bearish bets for a second straight week. The copper position continues to be in strongly bearish territory (-41,573 contracts) but below the recent record high bearish level of September 3rd at a total of -58,841 contracts.

VIX speculators once again added to their bearish positions for the seventh time out of the past eight weeks this week. The VIX spec bearish position remains at the most bearish level since the April 30th record high bearish position.

The 10-Year Bond speculators continued to unwind their bearish bets for a seventh consecutive week and pushed the net position to the least bearish level in ninety-four weeks.

Lastly, the WTI Crude Oil speculators increased their bullish bets higher for a second straight week following four consecutive weekly declines. Despite this week’s small gain, the overall bullish position is under the +400,000 net contract level for a fourth week (the 2019 average position is +398,827 contracts).

Speculators reduce US Dollar Index, Japanese Yen bets while boosting British Pound, CAD & Euro bets

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. See full article.

WTI Crude Oil Speculators raised their bullish bets for 2nd week

The large speculator contracts of WTI crude futures totaled a net position of 366,172 contracts, according to the latest data this week. This was a change of 9,288 contracts from the previous weekly total. See full article.

10-Year Note Speculators dropped their bearish bets for 7th straight week

Large speculator contracts of the 10-Year Bond futures totaled a net position of -84,353 contracts, according to the latest data this week. This was a change of 15,339 contracts from the previous weekly total. See full article.

Gold Speculators lifted their bullish bets this week after recent sharp declines

Large precious metals speculator contracts of the Gold futures totaled a net position of 259,132 contracts, according to the latest data this week. This was a change of 6,105 contracts from the previous weekly total. See full article.

VIX Speculators boosted their bearish bets for 7th time in 8 weeks

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -171,236 contracts, according to the latest data this week. This was a change of -15,256 contracts from the previous weekly total. See full article.

Silver Speculators added to their bullish bets for 2nd time in 3 weeks

Large precious metals speculator contracts of the silver futures totaled a net position of 46,743 contracts, according to the latest data this week. This was a change of 2,754 contracts from the previous weekly total. See full article.

Copper Speculators shed bearish bets for a 2nd week

Metals speculator contracts of the copper futures totaled a net position of -41,573 contracts, according to the latest data this week. This was a change of 5,682 contracts from the previous weekly total. See full article.

Article By CountingPips.com – Receive 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).

October 26th – By CountingPips.com – Receive our weekly COT Reports by Email

US Dollar Index Speculator Positions

Large currency speculators continued to decrease their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 31,210 contracts in the data reported through Tuesday October 22nd. This was a weekly decline of -6,226 contracts from the previous week which had a total of 37,436 net contracts.

This week’s net position was the result of the gross bullish position (longs) sinking by -3,455 contracts (to a weekly total of 40,833 contracts) compared to the gross bearish position (shorts) which saw a rise by 2,771 contracts on the week (to a total of 9,623 contracts).

US Dollar Index speculators reduced their bullish bets for a third straight week and by a total of -11,818 contracts over that time-frame. Previously, the dollar bets had hit a 127-week bullish high on October 1st above the +43,000 net contract level before the recent cool off. Overall, the dollar position has now been in bullish territory for seventy-six straight weeks, dating back to May of 2018.

Individual Currencies Data this week: CAD bets at 89-week high

In the other major currency contracts data, we saw four substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Euro bets surged this week by over +25,000 contracts following three straight weeks of declining positions (or higher bearish bets). The overall euro bearish standing (-51,050 contracts) fell to the least bearish position in six weeks. Overall, the euro position has been stuck in bearish territory for the past fifty-six straight weeks.

Japanese yen positions fell sharply for a second straight week and for the third consecutive week overall. The yen positioning (-18,165 contracts) is now in bearish territory for a second straight week after dropping by -17,653 contracts on October 15th. Previously, the yen had been in bullish standing from early August to October 8th.

British pound sterling speculators cut their bearish positions by over +20,000 contracts this week and bearish bets have now declined for six straight weeks. The current standing for GBP speculator positions (-52,440 contracts) is at the least bearish spot in nineteen weeks, dating back June.

Canadian dollar speculators boosted their bullish bets this week by over +20,000 contracts as the CAD positions rose for a second consecutive week. The gain for CAD bets brings the overall bullish position (+33,393 contracts) to the highest level in eighty-nine weeks, dating back to February of 2018.

Overall, the major currencies that saw improving speculator positions this week were the euro (25,816 weekly change in contracts), British pound sterling (20,512 contracts), Swiss franc (1,431 contracts), Canadian dollar (20,432 contracts) and the Australian dollar (3,619 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-6,226 weekly change in contracts), Japanese yen (-11,524 contracts), New Zealand dollar (-126 contracts) and the Mexican peso (-92 contracts).

Chart: Current Strength of Each Currency compared to their 3-Year Range

See the table and individual currency charts below.

Table of Large Speculator Levels & Weekly Changes:

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 came in at a net position of -51,050 contracts in the data reported through Tuesday. This was a weekly gain of 25,816 contracts from the previous week which had a total of -76,866 net contracts.

British Pound Sterling:

The large British pound sterling speculator level reached a net position of -52,440 contracts in the data reported this week. This was a weekly lift of 20,512 contracts from the previous week which had a total of -72,952 net contracts.

Japanese Yen:

Large Japanese yen speculators totaled a net position of -18,165 contracts in this week’s data. This was a weekly decline of -11,524 contracts from the previous week which had a total of -6,641 net contracts.

Swiss Franc:

The Swiss franc speculator standing this week recorded a net position of -11,335 contracts in the data through Tuesday. This was a weekly increase of 1,431 contracts from the previous week which had a total of -12,766 net contracts.

Canadian Dollar:

Canadian dollar speculators came in at a net position of 33,393 contracts this week. This was a advance of 20,432 contracts from the previous week which had a total of 12,961 net contracts.

Australian Dollar:

The large speculator positions in Australian dollar futures resulted in a net position of -43,986 contracts this week in the data ending Tuesday. This was a weekly rise of 3,619 contracts from the previous week which had a total of -47,605 net contracts.

New Zealand Dollar:

The New Zealand dollar speculative standing resulted in a net position of -40,142 contracts this week in the latest COT data. This was a weekly lowering of -126 contracts from the previous week which had a total of -40,016 net contracts.

Mexican Peso:

Mexican peso speculators came in at a net position of 112,950 contracts this week. This was a weekly fall of -92 contracts from the previous week which had a total of 113,042 net contracts.

Article By CountingPips.com – Receive 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).

October 26th – By CountingPips.com – Receive our weekly COT Reports by Email

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 366,172 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 9,288 net contracts from the previous week which had a total of 356,884 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 12,545 contracts (to a weekly total of 548,951 contracts) while the gross bearish position (shorts) increased by just 3,257 contracts for the week (to a total of 182,779 contracts).

WTI crude oil speculators raised their bullish bets for a second straight week following a streak of four weekly declines. The net position remains bullish above the +360,000 net contract level but is now under the +400,000 contract level for a fourth straight week (the 2019 average position is +398,827 contracts).

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 -366,970 contracts on the week. This was a weekly loss of -2,513 contracts from the total net of -364,457 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 $54.48 which was a boost of $1.67 from the previous close of $52.81, 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

October 26th – By CountingPips.com – Receive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators once again cut back on their bearish 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 -84,353 contracts in the data reported through Tuesday October 22nd. This was a weekly change of 15,339 net contracts from the previous week which had a total of -99,692 net contracts.

The week’s net position was the result of the gross bullish position (longs) going up by just 2,979 contracts (to a weekly total of 664,318 contracts) while the gross bearish position (shorts) lowered by -12,360 contracts for the week (to a total of 748,671 contracts).

10-year treasury speculators once again decreased their bearish bets for a seventh straight week and now by a total of 293,514 contracts over that period. The decrease in bearish sentiment has brought the position to its least bearish standing in ninety-four weeks dating back to January 2nd of 2018.

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 63,012 contracts on the week. This was a weekly boost of 23,023 contracts from the total net of 39,989 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 $129.82 which was an uptick of $0.03 from the previous close of $129.79, 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

October 26th – By CountingPips.com – Receive our weekly COT Reports by Email

Gold Non-Commercial Speculator Positions:

Large precious metals speculators lifted 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 259,132 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 6,105 net contracts from the previous week which had a total of 253,027 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 3,547 contracts (to a weekly total of 322,917 contracts) while the gross bearish position (shorts) fell by -2,558 contracts for the week (to a total of 63,785 contracts).

Gold speculators added to their bullish bets after dropping their positions sharply over the previous three weeks (3-week total decline of -59,417 contracts). This week’s modest rise pushes the bullish standing close to the +260,000 net contract level but remains quite a ways off the recent three-year high of +312,444 contracts on September 24th.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -295,357 contracts on the week. This was a weekly shortfall of -7,082 contracts from the total net of -288,275 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 $1487.50 which was a boost of $4.00 from the previous close of $1483.50, 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.com – Receive our weekly COT Reports by Email

October 26th – By CountingPips.com – Receive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators added to their bearish net positions in the VIX futures markets once 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -171,236 contracts in the data reported through Tuesday October 22nd. This was a weekly change of -15,256 net contracts from the previous week which had a total of -155,980 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 4,813 contracts (to a weekly total of 85,338 contracts) while the gross bearish position (shorts) jumped by a larger amount of 20,069 contracts for the week (to a total of 256,574 contracts).

VIX speculators continued to boost their bearish bets for a second straight week and for seventh time in the past eight weeks. The bearish sentiment is now at the highest level in twenty-five weeks which is also the highest standing since the record bearish high of -180,359 on April 30th. Overall, VIX positions have been in negative territory for forty-one weeks dating back to January 8th.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 181,661 contracts on the week. This was a weekly gain of 17,171 contracts from the total net of 164,490 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 $16.47 which was a shortfall of $-0.40 from the previous close of $16.87, 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