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COT Metals Charts: Weekly Speculator Changes led by Copper & Gold

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday June 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Copper & Gold

The COT metals markets speculator bets were higher this week as five out of the six metals markets we cover had higher positioning while the other one markets had lower speculator contracts.

Leading the gains for the metals was Copper (9,746 contracts) with Gold (6,325 contracts), Steel (2,593 contracts), Platinum (1,207 contracts) and Silver (351 contracts) also showing positive weeks.

The market with declines in speculator bets for the week was Palladium with a total change of -552 contracts on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jun-06-2023	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Gold	436,301	7	175,641	54	-198,187	47	22,546	36
Silver	137,871	23	21,475	49	-34,065	53	12,590	36
Copper	229,756	66	-25,956	8	24,610	92	1,346	27
Palladium	11,541	76	-6,602	5	7,192	97	-590	6
Platinum	67,537	65	24,613	72	-28,747	34	4,134	24

Strength Scores led by Platinum & Steel

On the downside, Palladium (5 percent) and Copper (8 percent) come in at the lowest strength level currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Gold (54.4 percent) vs Gold previous week (51.6 percent)
Silver (48.9 percent) vs Silver previous week (48.4 percent)
Copper (8.4 percent) vs Copper previous week (0.0 percent)
Platinum (72.4 percent) vs Platinum previous week (69.6 percent)
Palladium (4.6 percent) vs Palladium previous week (9.7 percent)
Steel (65.3 percent) vs Palladium previous week (57.8 percent)

Steel tops the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Steel (8 percent) leads the past six weeks trends for metals. Platinum (-12 percent) is the next highest positive mover in the latest trends data.

Silver (-13 percent) and Platinum (-12 percent) lead the downside trend scores currently.

Move Statistics:
Gold (-4.2 percent) vs Gold previous week (-9.1 percent)
Silver (-13.0 percent) vs Silver previous week (-7.8 percent)
Copper (-7.7 percent) vs Copper previous week (-38.6 percent)
Platinum (-11.5 percent) vs Platinum previous week (-2.1 percent)
Palladium (-6.7 percent) vs Palladium previous week (-3.8 percent)
Steel (8.3 percent) vs Steel previous week (-1.5 percent)

Individual Markets:

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week reached a net position of 175,641 contracts in the data reported through Tuesday. This was a weekly advance of 6,325 contracts from the previous week which had a total of 169,316 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.4 percent. The commercials are Bearish with a score of 47.4 percent and the small traders (not shown in chart) are Bearish with a score of 36.5 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	54.4	26.7	10.9
– Percent of Open Interest Shorts:	14.2	72.1	5.7
– Net Position:	175,641	-198,187	22,546
– Gross Longs:	237,467	116,363	47,595
– Gross Shorts:	61,826	314,550	25,049
– Long to Short Ratio:	3.8 to 1	0.4 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	54.4	47.4	36.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.2	5.3	-10.3

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week reached a net position of 21,475 contracts in the data reported through Tuesday. This was a weekly gain of 351 contracts from the previous week which had a total of 21,124 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 48.9 percent. The commercials are Bullish with a score of 52.6 percent and the small traders (not shown in chart) are Bearish with a score of 36.3 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	38.5	31.0	18.8
– Percent of Open Interest Shorts:	23.0	55.7	9.6
– Net Position:	21,475	-34,065	12,590
– Gross Longs:	53,149	42,785	25,871
– Gross Shorts:	31,674	76,850	13,281
– Long to Short Ratio:	1.7 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	48.9	52.6	36.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-13.0	9.0	9.3

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week reached a net position of -25,956 contracts in the data reported through Tuesday. This was a weekly increase of 9,746 contracts from the previous week which had a total of -35,702 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 8.4 percent. The commercials are Bullish-Extreme with a score of 92.0 percent and the small traders (not shown in chart) are Bearish with a score of 27.0 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.7	46.1	7.1
– Percent of Open Interest Shorts:	36.0	35.4	6.5
– Net Position:	-25,956	24,610	1,346
– Gross Longs:	56,660	105,982	16,315
– Gross Shorts:	82,616	81,372	14,969
– Long to Short Ratio:	0.7 to 1	1.3 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	8.4	92.0	27.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.7	13.5	-46.6

Platinum Futures:

The Platinum Futures large speculator standing this week reached a net position of 24,613 contracts in the data reported through Tuesday. This was a weekly lift of 1,207 contracts from the previous week which had a total of 23,406 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.4 percent. The commercials are Bearish with a score of 34.0 percent and the small traders (not shown in chart) are Bearish with a score of 23.5 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	52.1	31.6	10.6
– Percent of Open Interest Shorts:	15.7	74.2	4.5
– Net Position:	24,613	-28,747	4,134
– Gross Longs:	35,201	21,339	7,140
– Gross Shorts:	10,588	50,086	3,006
– Long to Short Ratio:	3.3 to 1	0.4 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.4	34.0	23.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-11.5	11.5	-7.5

Palladium Futures:

The Palladium Futures large speculator standing this week reached a net position of -6,602 contracts in the data reported through Tuesday. This was a weekly reduction of -552 contracts from the previous week which had a total of -6,050 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 4.6 percent. The commercials are Bullish-Extreme with a score of 97.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 6.2 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.5	69.2	11.3
– Percent of Open Interest Shorts:	74.7	6.9	16.4
– Net Position:	-6,602	7,192	-590
– Gross Longs:	2,023	7,992	1,299
– Gross Shorts:	8,625	800	1,889
– Long to Short Ratio:	0.2 to 1	10.0 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.6	97.5	6.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.7	7.4	-9.5

Steel Futures Futures:

The Steel Futures large speculator standing this week reached a net position of -2,706 contracts in the data reported through Tuesday. This was a weekly rise of 2,593 contracts from the previous week which had a total of -5,299 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 65.3 percent. The commercials are Bearish with a score of 34.6 percent and the small traders (not shown in chart) are Bearish with a score of 34.8 percent.

Steel Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.8	81.6	1.4
– Percent of Open Interest Shorts:	19.3	71.5	0.9
– Net Position:	-2,706	2,593	113
– Gross Longs:	2,251	20,912	353
– Gross Shorts:	4,957	18,319	240
– Long to Short Ratio:	0.5 to 1	1.1 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	65.3	34.6	34.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.3	-8.5	6.2

Article By InvestMacro – Receive our weekly COT Newsletter

*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) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.

11 Jun

COT Soft Commodities Charts: Weekly Speculator Changes led by Soybeans & Soybean Oil

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) reports data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday June 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Soybeans & Soybean Oil

The COT soft commodities markets speculator bets were higher this week as ten out of the eleven softs markets we cover had higher positioning while the other one markets had lower speculator contracts.

Leading the gains for the softs markets was Soybean Oil (24,054 contracts) with Soybeans (9,341 contracts), Soybean Meal (8,784 contracts), Cocoa (6,661 contracts), Corn (5,636 contracts), Coffee (4,711 contracts), Live Cattle (4,243 contracts), Cotton (1,857 contracts), Lean Hogs (2,611 contracts) and Wheat (3,312 contracts) also showing positive weeks.

The market with the declines in speculator bets this week were Sugar (-16,519 contracts) with also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jun-06-2023	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,951,628	49	172,442	4	-198,377	95	25,935	31
Gold	436,301	7	175,641	54	-198,187	47	22,546	36
Silver	137,871	23	21,475	49	-34,065	53	12,590	36
Copper	229,756	66	-25,956	8	24,610	92	1,346	27
Palladium	11,541	76	-6,602	5	7,192	97	-590	6
Platinum	67,537	65	24,613	72	-28,747	34	4,134	24
Natural Gas	1,389,864	85	-126,852	21	92,364	76	34,488	62
Brent	135,100	8	-42,455	23	41,681	84	774	20
Heating Oil	307,550	39	21,277	66	-28,835	61	7,558	25
Soybeans	669,123	21	39,155	5	-16,089	91	-23,066	36
Corn	1,322,137	17	-14,771	27	66,120	82	-51,349	26
Coffee	204,447	16	28,331	56	-28,769	47	438	18
Sugar	1,021,535	75	233,868	74	-278,395	25	44,527	61
Wheat	405,201	69	-90,684	2	85,364	97	5,320	91

Strength Scores led by Cocoa & Live Cattle

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Cocoa (100 percent) and Live Cattle (97 percent) lead the softs markets this week. Sugar (74 percent), Soybean Meal (62 percent) and Coffee (56 percent) come in as the next highest in the weekly strength scores.

On the downside, Lean Hogs (2 percent), Wheat (2 percent), Soybeans (5 percent) and the Soybean Oil (14 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (26.9 percent) vs Corn previous week (26.2 percent)
Sugar (73.6 percent) vs Sugar previous week (79.4 percent)
Coffee (56.5 percent) vs Coffee previous week (51.6 percent)
Soybeans (4.5 percent) vs Soybeans previous week (0.9 percent)
Soybean Oil (14.0 percent) vs Soybean Oil previous week (0.0 percent)
Soybean Meal (61.6 percent) vs Soybean Meal previous week (57.0 percent)
Live Cattle (96.5 percent) vs Live Cattle previous week (91.8 percent)
Lean Hogs (2.1 percent) vs Lean Hogs previous week (0.0 percent)
Cotton (21.1 percent) vs Cotton previous week (19.7 percent)
Cocoa (100.0 percent) vs Cocoa previous week (92.5 percent)
Wheat (2.4 percent) vs Wheat previous week (0.0 percent)

Cotton & Cocoa top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Cotton (16 percent) and Cocoa (12 percent) lead the past six weeks trends for soft commodities.

Soybeans (-26 percent) leads the downside trend scores currently with Sugar (-16 percent), Coffee (-8 percent) and Lean Hogs (-5 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (-5.1 percent) vs Corn previous week (-16.4 percent)
Sugar (-16.2 percent) vs Sugar previous week (-6.7 percent)
Coffee (-8.5 percent) vs Coffee previous week (-13.7 percent)
Soybeans (-25.5 percent) vs Soybeans previous week (-58.0 percent)
Soybean Oil (6.4 percent) vs Soybean Oil previous week (-12.6 percent)
Soybean Meal (-4.1 percent) vs Soybean Meal previous week (-18.6 percent)
Live Cattle (4.0 percent) vs Live Cattle previous week (-0.8 percent)
Lean Hogs (-5.3 percent) vs Lean Hogs previous week (-7.4 percent)
Cotton (16.5 percent) vs Cotton previous week (7.6 percent)
Cocoa (11.8 percent) vs Cocoa previous week (7.0 percent)
Wheat (-5.3 percent) vs Wheat previous week (-16.7 percent)

Individual Soft Commodities Markets:

CORN Futures:

The CORN large speculator standing this week recorded a net position of -14,771 contracts in the data reported through Tuesday. This was a weekly lift of 5,636 contracts from the previous week which had a total of -20,407 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 26.9 percent. The commercials are Bullish-Extreme with a score of 81.7 percent and the small traders (not shown in chart) are Bearish with a score of 25.7 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.3	50.8	8.9
– Percent of Open Interest Shorts:	21.4	45.8	12.8
– Net Position:	-14,771	66,120	-51,349
– Gross Longs:	268,763	672,074	117,595
– Gross Shorts:	283,534	605,954	168,944
– Long to Short Ratio:	0.9 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.9	81.7	25.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.1	4.5	6.9

SUGAR Futures:

The SUGAR large speculator standing this week recorded a net position of 233,868 contracts in the data reported through Tuesday. This was a weekly lowering of -16,519 contracts from the previous week which had a total of 250,387 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 73.6 percent. The commercials are Bearish with a score of 24.7 percent and the small traders (not shown in chart) are Bullish with a score of 60.5 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.0	42.7	9.1
– Percent of Open Interest Shorts:	8.1	70.0	4.7
– Net Position:	233,868	-278,395	44,527
– Gross Longs:	316,809	436,281	92,941
– Gross Shorts:	82,941	714,676	48,414
– Long to Short Ratio:	3.8 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	73.6	24.7	60.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-16.2	17.4	-15.2

COFFEE Futures:

The COFFEE large speculator standing this week recorded a net position of 28,331 contracts in the data reported through Tuesday. This was a weekly increase of 4,711 contracts from the previous week which had a total of 23,620 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 56.5 percent. The commercials are Bearish with a score of 47.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.9 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.1	44.4	3.6
– Percent of Open Interest Shorts:	10.2	58.4	3.4
– Net Position:	28,331	-28,769	438
– Gross Longs:	49,241	90,686	7,356
– Gross Shorts:	20,910	119,455	6,918
– Long to Short Ratio:	2.4 to 1	0.8 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.5	47.3	17.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.5	8.9	-8.2

SOYBEANS Futures:

The SOYBEANS large speculator standing this week recorded a net position of 39,155 contracts in the data reported through Tuesday. This was a weekly boost of 9,341 contracts from the previous week which had a total of 29,814 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 4.5 percent. The commercials are Bullish-Extreme with a score of 91.3 percent and the small traders (not shown in chart) are Bearish with a score of 36.4 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.4	52.6	6.9
– Percent of Open Interest Shorts:	14.6	55.0	10.4
– Net Position:	39,155	-16,089	-23,066
– Gross Longs:	136,718	351,669	46,263
– Gross Shorts:	97,563	367,758	69,329
– Long to Short Ratio:	1.4 to 1	1.0 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.5	91.3	36.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.5	20.9	8.2

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week recorded a net position of -7,194 contracts in the data reported through Tuesday. This was a weekly lift of 24,054 contracts from the previous week which had a total of -31,248 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 14.0 percent. The commercials are Bullish-Extreme with a score of 88.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.6	58.0	5.6
– Percent of Open Interest Shorts:	16.9	56.0	6.2
– Net Position:	-7,194	10,834	-3,640
– Gross Longs:	84,021	312,922	30,043
– Gross Shorts:	91,215	302,088	33,683
– Long to Short Ratio:	0.9 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	14.0	88.2	0.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.4	-5.0	-5.5

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week recorded a net position of 103,317 contracts in the data reported through Tuesday. This was a weekly boost of 8,784 contracts from the previous week which had a total of 94,533 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 61.6 percent. The commercials are Bearish with a score of 41.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.8 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.5	37.5	9.7
– Percent of Open Interest Shorts:	5.6	61.3	6.8
– Net Position:	103,317	-117,624	14,307
– Gross Longs:	131,273	185,802	47,980
– Gross Shorts:	27,956	303,426	33,673
– Long to Short Ratio:	4.7 to 1	0.6 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	61.6	41.2	19.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.1	4.8	-5.6

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week recorded a net position of 105,621 contracts in the data reported through Tuesday. This was a weekly advance of 4,243 contracts from the previous week which had a total of 101,378 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 96.5 percent. The commercials are Bearish-Extreme with a score of 3.2 percent and the small traders (not shown in chart) are Bearish with a score of 43.2 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.5	26.9	9.4
– Percent of Open Interest Shorts:	13.6	56.3	11.9
– Net Position:	105,621	-97,322	-8,299
– Gross Longs:	150,516	89,224	31,127
– Gross Shorts:	44,895	186,546	39,426
– Long to Short Ratio:	3.4 to 1	0.5 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	96.5	3.2	43.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.0	-5.9	7.1

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week recorded a net position of -33,503 contracts in the data reported through Tuesday. This was a weekly advance of 2,611 contracts from the previous week which had a total of -36,114 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 2.1 percent. The commercials are Bullish-Extreme with a score of 98.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 90.3 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.6	39.1	9.5
– Percent of Open Interest Shorts:	39.4	25.1	8.8
– Net Position:	-33,503	31,957	1,546
– Gross Longs:	55,832	88,831	21,583
– Gross Shorts:	89,335	56,874	20,037
– Long to Short Ratio:	0.6 to 1	1.6 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	2.1	98.9	90.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.3	7.4	-8.0

COTTON Futures:

The COTTON large speculator standing this week recorded a net position of 16,469 contracts in the data reported through Tuesday. This was a weekly gain of 1,857 contracts from the previous week which had a total of 14,612 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 21.1 percent. The commercials are Bullish with a score of 76.1 percent and the small traders (not shown in chart) are Bearish with a score of 43.6 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.0	48.5	7.1
– Percent of Open Interest Shorts:	22.5	59.3	4.8
– Net Position:	16,469	-21,021	4,552
– Gross Longs:	60,225	94,138	13,865
– Gross Shorts:	43,756	115,159	9,313
– Long to Short Ratio:	1.4 to 1	0.8 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	21.1	76.1	43.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	16.5	-18.5	33.1

COCOA Futures:

The COCOA large speculator standing this week recorded a net position of 72,234 contracts in the data reported through Tuesday. This was a weekly rise of 6,661 contracts from the previous week which had a total of 65,573 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bearish with a score of 39.7 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	44.0	27.7	4.7
– Percent of Open Interest Shorts:	22.5	50.5	3.5
– Net Position:	72,234	-76,549	4,315
– Gross Longs:	147,856	92,990	15,922
– Gross Shorts:	75,622	169,539	11,607
– Long to Short Ratio:	2.0 to 1	0.5 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	0.0	39.7
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.8	-11.6	-2.2

WHEAT Futures:

The WHEAT large speculator standing this week recorded a net position of -90,684 contracts in the data reported through Tuesday. This was a weekly rise of 3,312 contracts from the previous week which had a total of -93,996 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 2.4 percent. The commercials are Bullish-Extreme with a score of 97.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.4 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.4	39.1	10.1
– Percent of Open Interest Shorts:	48.7	18.0	8.8
– Net Position:	-90,684	85,364	5,320
– Gross Longs:	106,834	158,400	40,861
– Gross Shorts:	197,518	73,036	35,541
– Long to Short Ratio:	0.5 to 1	2.2 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	2.4	97.2	91.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.3	8.0	-8.6

Article By InvestMacro – Receive our weekly COT Newsletter

COT Updates Financial News Soft Commodities

09 Jun

The cryptocurrency market digest (BTC). Overview for 09.06.2023

By RoboForex.com

The BTC is consolidating near 26,455 USD on Friday. The flagship cryptocurrency lost 2.3% over the week.

There are numerous internal triggers that are alarming investors and hindering the market from buying. For example, market players continue to be concerned about the multiple and rather aggressive claims by the US Securities and Exchange Commission (SEC) against Binance and its management. It’s no secret that the SEC is seeking to put pressure on the cryptocurrency sector and complicate its operations to the extent that it would not be feasible to operate. The Commission now appears to have reached for really effective levers.

The fall in the BNB rate has also signalled a sell-off for digital assets.

Support for BTC remains at 26,000 USD, and next at 25,500 USD.

The capitalisation of the cryptocurrency market declined to 1.1 trillion USD. BTC’s share rose to 46.7%, while the share of ETH remains at 20.1%.

FTX keeps its list of major clients secret

Even after the collapse of the company, the bankrupt exchange FTX continues to keep its major clients secret. Multiple media publications argue that such a list should be made public. However, Perella Weinberg Partners, the company that is investigating the capital of FTX and the possibility of restructuring the exchange, believes it should remain undisclosed. Publishing the list could hinder the launch of FTX 2.0.

Ripple sponsors the battle against climate change

Ripple is investing 100 million USD in the fight against climate change. This amount of funding could help accelerate the modernisation of the carbon credit market. Ripple also intends to invest in new models that will enable the tokenization of carbon credits.

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.

Cryptocurrencies Financial News

09 Jun

The US and UK signed the “Atlantic Declaration”. The IMF urges central banks to keep raising rates

By JustMarkets

The US Jobless claims showed a sharp jump yesterday and spurred expectations of a Federal Reserve pause next week. This led to a drop in the dollar index and Treasury yields. Consequently, stock indices, which have an inverse correlation to the dollar index, got a boost. At the close of the stock market yesterday, the Dow Jones index (US30) increased by 0.50%, and the S&P 500 Index (US500) was up by 0.62%. The NASDAQ Technology Index (US100) closed positive by 1.02% on Thursday.

The International Monetary Fund (IMF) on Thursday urged the US Federal Reserve and other global central banks to continue tightening measures to reduce inflation. The report indicates that although inflation is slowing, it is still the most worrisome.

Goldman Sachs Group Inc. is planning a period of sluggish growth and higher inflation, calling it a “mini-stagflation scenario.” Although the US economy is showing resilience, concerns remain among investors that a recession could occur amid stubborn inflation and high borrowing costs. There is uncertainty about the extent of the economic downturn, as many fear that the impact of higher interest rates is not yet fully felt in areas such as private lending and real estate.

Equity markets in Europe traded flat yesterday. Germany’s DAX (DE30) gained 0.50%, France’s CAC 40 (FR40) added 0.27% on Thursday, Spain’s IBEX 35 (ES35) decreased by 0.17%, Britain’s FTSE 100 (UK100) closed down by 0.32%.

According to a clear majority of economists, the European Central Bank will raise its key interest rates by 25 basis points on June 15 and again in July before pausing for the rest of the year. In contrast, the US Federal Reserve is projected to remain paused at its June meeting and for the rest of the year.

Inflation in Switzerland remains high, and interest rates must be raised to keep it under control, Swiss National Bank President Thomas Jordan said yesterday. This is Jordan’s last public speech before the SNB’s upcoming interest rate decision on June 22. Economists expect the Swiss central bank to continue raising another 25 basis points, even though the country’s inflation remains among the lowest in the world.

The US and Great Britain signed a new “Atlantic Declaration” on economic cooperation. The countries have agreed to create a new civilian nuclear energy partnership as part of a clean energy cooperation that will include building new infrastructure over the long term and reducing dependence on Russian fuel. The two countries will also begin talks on a critical minerals agreement that will allow some British companies access to tax breaks. These minerals, such as lithium, nickel, cobalt, graphite and manganese, are crucial for the production of batteries for electric cars, smartphones and solar panels.

Asian markets traded flat yesterday. Japan’s Nikkei 225 (JP225) decreased by 0.85% for the day, China’s FTSE China A50 (CHA50) was up by 1.11%, Hong Kong’s Hang Seng (HK50) ended the day up by 0.25%, India’s NIFTY 50 (IND50) lost 0.49%, and Australia’s S&P/ASX 200 (AU200) ended Thursday negative by 0.26%.

India’s Central Bank kept its key interest rate unchanged for a second straight meeting Thursday. India raised rates by 250 basis points from May 2022.

Fitch Ratings changed its outlook on Australia and New Zealand’s banking sector from “Neutral” to “Worsening”, reflecting stronger constraints on bank earnings and asset quality.

China’s consumer price inflation continued to decline in May, with the producer price index reaching a 7-year low. On an annualized basis, consumer prices rose from 0.1% to 0.2%, but factory inflation (PPI) fell from minus 3.6% to minus 4.6%. The sharp drop in PPI points to a steady decline in manufacturing, indicating that the economic recovery is slowing.

S&P 500 (F) (US500) 4,293.93 +26.41 (+0.62%)

Dow Jones (US30)33,833.61 +168.59 (+0.50%)

DAX (DE40) 15,989.96 +29.40 (+0.18%)

FTSE 100 (UK100) 7,599.74 −24.60 (−0.32%)

USD Index 103.33 −0.77 (−0.74%)

Important events for today:

– China Consumer Price Index (m/m) at 04:30 (GMT+3);
– China Producer Price Index (m/m) at 04:30 (GMT+3);
– Canada Unemployment Rate (m/m) at 15:30 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News

08 Jun

Ichimoku Cloud Analysis 08.06.2023 (GBPUSD, USDCHF, XAUUSD)

By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.2410 is expected, followed by a rise to 1.2620. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.2375, which will mean a further decline to 1.2285. Meanwhile, the increase could be confirmed by a breakout of the upper border of the bearish channel, securing above 1.2535.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is correcting by a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.9080 is expected, followed by a rise to 0.9205. A signal confirming the rise will be a rebound from the lower border of the Triangle pattern. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.9020, which will mean a further decline to 0.8925. Meanwhile, the increase could be confirmed by a breakout of the upper border of the Triangle pattern, securing above 0.9120.

XAUUSD, “Gold vs US Dollar”

Gold is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1955 is expected, followed by a decline to 1895. An additional signal confirming the decline will be a rebound from the upper border of the Triangle pattern. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1970, which will mean further growth to 2005. Meanwhile, the decline could be confirmed by a breakout of the lower border of the Triangle pattern, securing under 1935.

Article By RoboForex.com

Financial News Forex and Currency News

08 Jun

SPX500 bears try to gain momentum

By ForexTime

The SPX500_m index seems to be in a sturdy uptrend on the H4 timeframe with prices making a higher top at 4301.6 on Monday 5th June.

However, bears could be making an appearance after prices hit the weekly resistance level as sellers start coming into the market in more numbers. After hitting 4301.6, prices broke through the 15 Simple Moving Average (SMA) and the Momentum Oscillator altered course to the lower side, both confirming the intensified bearish action in the market.

After some initial bearish action and then a bit of flat lining, bulls re-tested the weekly resistance level but were not successful with a lower top forming on 7 June at 4301.3. Bears then gathered in more numbers with a possible critical support level forming when a lower bottom was recorded at 4259.9 on 8 June.

If the bears manage to break through the critical support level at 4259.9, then three possible price targets can be projected from there. Attaching the Fibonacci tool to the lower bottom at 4259.9, and dragging it to the lower top at 4301.3, the following targets may be calculated.

The first target can be estimated at 4234.3 (161.8%).
The second price target may be calculated at 4192.9 (261.8%).
If the price has enough momentum to reach the next weekly support level, the third and final target may be expected at 4125.9 (423.6%).
Alternatively, should the resistance level at 4301.3 is broken, the above scenario is cancelled and must be re-assessed.

As long as the bears keep building momentum, the outlook for SPX500_m on the H4 time frame will remain to the downside.

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Financial News Stock Market News

08 Jun

Investors are fixing their profits on indices. The Turkish lira reached another low

By JustMarkets

At the close of the stock market yesterday, the Dow Jones Index (US30) gained 0.27%, and the S&P 500 Index (US500) fell by 0.38%. The NASDAQ Technology Index (US100) closed negative 1.28% on Wednesday. According to analysts, hedge funds are fixing their positions on the last rally before the key economic and political events next week.

The US trade deficit widened in April to its highest level in six months as exports declined at the fastest pace since the pandemic began and imports widened. The trade deficit in goods and services rose by $14 billion, or 23%, from the previous month. The broader deficit implies that trade will be subtracted from the gross domestic product in the second quarter. That means second-quarter GDP growth will be between 0 and 1%.

JPMorgan’s experts pointed to the emerging signs of de-dollarization in global foreign exchange reserves and central bank reserves. While the dollar accounts for the lion’s share – 88% of the volume of foreign exchange, and its share in trade accounts also remains stable – between 40% and 50%. However, the share of the US itself in world trade has declined, and the country’s exports have fallen to a record low of 9%. The dollar’s main competitor admittedly remains the yuan, although its international presence remains small: compared to the dollar’s 43% share of SWIFT payments, the yuan’s share is 2.3%.

According to Goldman Sachs, the benchmark S&P 500 index is poised for big gains on the back of the increasing adoption of AI-based technologies in the US. Widespread adoption of AI is expected within ten years. The uncertainty is mainly related to possible productivity gains and the ability of firms to convert AI into increased margins. Nvidia (NVDA) is an example of the potential impact on corporate profits through AI technology.

Following the Reserve Bank of Australia, Canada’s central bank raised its benchmark rate by 25 basis points to 4.75%, the highest level in 22 years, because of growing fears that inflation could get stuck well above the 2% target amid consistently strong economic growth. The tone of the statement was rather hawkish. The Canadian dollar was also supported by data showing that Canadian exports jumped by 2.5% in April to an all-time high in volume.

Equity markets in Europe were mostly down yesterday. Germany’s DAX (DE30) fell by 0.20%, France’s CAC 40 (FR40) lost 0.09% on Wednesday, Spain’s IBEX 35 (ES35) added 0.57%, Britain’s FTSE 100 (UK100) closed down by 0.05%.

The Turkish lira fell by 7% to a record low as the recently elected government loosened measures to stabilize the currency. The lira came under pressure after President Tayyip Erdogan’s re-election on May 28. It hit a record low of 23.16 against the dollar on Wednesday, bringing its losses so far this year to more than 19%.

Oil prices rose about 1% Wednesday as Saudi Arabia’s plans to significantly cut production more than offset demand problems caused by rising US fuel inventories and weak Chinese export data. The US crude oil inventories fell about 450,000, according to the Energy Information Administration, compared with estimates of 1 million units.

Gold began to catch up to the dollar as central banks bought the commodity in record volumes. Gold now accounts for 15% of total assets compared to 44% for the dollar.

Asian markets traded flat yesterday. Japan’s Nikkei 225 (JP225) was down 1.82% for the day, China’s FTSE China A50 (CHA50) decreased by 0.63%, Hong Kong’s Hang Seng (HK50) was up 0.83% for the day, India’s NIFTY 50 (IND50) added 0.68%, and Australia’s S&P/ASX 200 (AU200) was negative 0.16% for the day.

China’s major banks cut interest rates on yuan-denominated deposits on Thursday, which could ease pressure on profit margins and lower the cost of lending, providing some relief for the financial sector and the economy as a whole. State-backed banks cut rates on demand deposits by 5 basis points and on three- and five-year term deposits by 15 basis points.

S&P 500 (F) (US500) 4,267.52 −16.33 (−0.38%)

Dow Jones (US30)33,665.02 +91.74 (+0.27%)

DAX (DE40) 15,960.56 −31.88 (−0.20%)

FTSE 100 (UK100) 7,624.34 −3.76 (−0.049%)

USD Index 104.13 −0.02 (−0.02%)

Important events for today:

– Japan GDP (q/q) at 02:50 (GMT+3);
Australia Trade Balance (m/m) at 04:30 (GMT+3);
– Indian Interest Rate Decision (m/m) at 07:30 (GMT+3);
– Eurozone GDP (q/q) at 12:00 (GMT+3);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
– US Natural Gas Storage (w/w) at 17:30 (GMT+3).

By JustMarkets

Economics & Fundamentals Financial News

07 Jun

RoboMarkets Wins “Best Stocks Broker” Award at Global Forex Awards 2023 – B2B

RoboMarkets is thrilled to announce that it was honoured with the prestigious “Best Stocks Broker” award at the Global Forex Awards 2022 – B2B. This marks the fourth consecutive year that RoboMarkets is recognised as the leading stocks broker, as the trader community highly values its products and services for trading in the stock market.

RoboMarkets offers its clients access to a wide selection of US Stocks and ETFs with a total of over 3,000 instruments to trade and invest in. One of the company’s worthy innovations is the R StocksTrader platform. It combines a modern design with a user-friendly interface while enabling exclusive access to trading around 1,000 stocks with 0% commission and without any hidden costs. High-quality service is a priority for RoboMarkets. This is why the company invests in the three pillars of a trusted brokerage firm: execution quality, security, and customer service.

The Global Forex Awards 2022 – B2B brings together the industry’s top companies that have made significant contributions to the development of trading solutions and innovations in financial markets. The awards recognise excellence in areas such as liquidity provision, client services, order execution, affiliate conditions, platforms and performance, and other crucial aspects of the Forex B2B market. Winners are determined through open voting by clients of forex companies worldwide.

About RoboMarkets

RoboMarkets is a financial brokerage company operating under CySEC licence No. 191/13. RoboMarkets offers investment services in many European countries and provides traders working in financial markets with access to its proprietary platforms. Visit www.robomarkets.com to find out more about the Company’s products and activities.

Financial News Stock Market News

07 Jun

RoboForex Wins “Best Mobile Trading App” Title for its R MobileTrader at Global Forex Awards

RoboForex, a brokerage company, is delighted to announce its victory in the prestigious category of “Best Mobile Trading App” at the Global Forex Awards 2022 – B2B. This marks the fourth consecutive year that RoboForex’s application, R MobileTrader, is recognised for its exceptional features, enabling users to conveniently access a wide range of investment instruments and an intuitive interface focused on valuable information.

R MobileTrader continues to receive high praise from its users, maintaining its top position for the third year running. With just a few taps, clients can remotely open a brokerage account, deposit funds, and begin trading over 12,000 instruments. The RoboForex team dedicates substantial efforts to enhancing the application’s functionality, stability, and security for the best possible trading experience for users.

The Global Forex Awards annually honour top companies in recognition of their proven achievements in providing outstanding financial market services. The awards celebrate the best companies and brands in the market, both regionally and globally.

The winners are distinguished brokers who employ innovative technologies, advanced research tools, comprehensive educational programmes, and cutting-edge business solutions; thereby ensuring their clients receive world-class services.

About RoboForex

RoboForex is a company that delivers brokerage services. The company provides traders who work in financial markets with access to its proprietary trading platforms. RoboForex Ltd operates under brokerage licence FSC 000138/437. View more detailed information about the Company’s products and activities on the official website roboforex.com.

Financial News Forex and Currency News

07 Jun

The cryptocurrency market digest (BTC). Overview for 07.06.2023

By RoboForex.com

The BTC restored to 26,836 USD on Wednesday after a major decline the day before. Since yesterday, the leading crypto has been showing the consequences of a rebound.

However, the market did not renew the new support at 25,500 USF though in the afternoon it seemed possible. The decline was provoked by the news about the interaction between the US Securities and Exchange Commission (SEC) and Binance. The commission accused of misconduct the company itself and its owner. The SEC had long been trying to get its hands on the massive crypto business and seems to have found a leverage this time.

The SEC might make it more difficult for crypto companies to work in the US. It might make regulations tougher. The commission is likely to do anything to decrease liquidity in digital assets markets, making their work complicated and expensive. This may not happen at once but looks rather probable, and investors can see this probability.

In the nearest future, the BTC will try to rise above 27,300 USD. We will see what happens next.

The capitalisation of the crypto market has dropped to 1.123 trillion USD. The BTC has returned to 46.4%, and the ETH has risen to 20.1%.

Gresham thinks crypto business must leave the US

Gresham lawyers think that the US are creating unfavourable legal conditions for the crypto business, which might make companies leave. The law firm suggests that crypto companies should consider bringing their businesses out of the US jurisdiction.

Crypto insurance started working in Bermuda

Insurance Bitcoin has organised two rounds of financing, raising 19 million USD total. The company is getting ready to be licensed by the Monetary Authority of Bermuda. The first objective will become full life insurance nominated in the BTC.

Article By RoboForex.com

Cryptocurrencies Financial News

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