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COT Metals Speculators have cooled off their Gold and Copper bets

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 May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT metals data is the recent decrease in the Gold and Copper speculative positions. Gold speculator bets fell this week for the fifth straight week and for the eighth time in the past ten weeks as sentiment for the shiny metal has dulled over the past few months. This latest 5-week decline has amounted to a total reduction of -78,927 contracts from the speculator position. The current speculator standing for Gold remains in bullish position but has descended to lowest level of the past fifteen weeks (at +175,360 contracts), dating back to early February.

Despite the speculator decline, the gold price rebounded by over 1 percent this week (close near $1,842 per ounce) following four straight weeks of decline that brought the Gold futures price down from a high of over $2,000 per ounce in mid-April to roughly $1,800 per ounce to close out last week.

Copper speculator bets have also cooled over the past couple months and fell this week for the sixth consecutive week. This decline has taken a whopping -60,550 contracts off the speculator position and has dropped the spec level from +36,142 contracts on April 5th to -24,408 contracts this week. This week’s total marks the lowest level for Copper bets in the past 109 weeks, dating back to April 14th of 2020. The slowdown in the Chinese economy and the Covid shutdowns in China have put a dent in the Copper sentiment as China is one of the largest world producers of Copper and is the largest consumer of Copper in the world.

Overall, the markets with higher speculator bets this week were just Platinum (840 contracts) and Palladium (30 contracts).

The markets with declining speculator bets this week were Gold (-17,955 contracts), Silver (-2,968 contracts) and Copper (-1,782 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

May-17-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,730,665	0	325,637	7	-363,869	95	38,232	69
Gold	555,756	30	175,360	33	-206,879	65	31,519	48
Silver	144,534	11	16,114	38	-24,841	75	8,727	0
Copper	189,483	19	-24,408	25	23,059	75	1,349	33
Palladium	9,114	13	-3,215	3	3,621	97	-406	20
Platinum	65,926	32	2,203	7	-6,697	96	4,494	25
Natural Gas	1,118,417	8	-115,012	44	64,340	51	50,672	100
Brent	176,861	21	-34,867	53	32,127	47	2,740	46
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	709,144	24	183,647	73	-156,937	33	-26,710	26
Corn	1,548,438	29	473,743	91	-424,756	11	-48,987	15
Coffee	206,106	0	38,487	72	-40,949	32	2,462	13
Sugar	825,281	6	196,630	77	-245,374	22	48,744	68
Wheat	326,651	8	28,806	57	-26,020	23	-2,786	98

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week came in at a net position of 175,360 contracts in the data reported through Tuesday. This was a weekly reduction of -17,955 contracts from the previous week which had a total of 193,315 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 33.2 percent. The commercials are Bullish with a score of 64.8 percent and the small traders (not shown in chart) are Bearish with a score of 48.0 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	50.9	24.8	9.1
– Percent of Open Interest Shorts:	19.4	62.0	3.4
– Net Position:	175,360	-206,879	31,519
– Gross Longs:	283,011	137,687	50,588
– Gross Shorts:	107,651	344,566	19,069
– Long to Short Ratio:	2.6 to 1	0.4 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	33.2	64.8	48.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-26.3	26.1	-5.4

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week came in at a net position of 16,114 contracts in the data reported through Tuesday. This was a weekly decline of -2,968 contracts from the previous week which had a total of 19,082 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 38.4 percent. The commercials are Bullish with a score of 74.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	41.4	37.6	16.0
– Percent of Open Interest Shorts:	30.3	54.7	10.0
– Net Position:	16,114	-24,841	8,727
– Gross Longs:	59,857	54,287	23,121
– Gross Shorts:	43,743	79,128	14,394
– Long to Short Ratio:	1.4 to 1	0.7 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.4	74.5	0.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.8	34.5	-34.4

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week came in at a net position of -24,408 contracts in the data reported through Tuesday. This was a weekly decrease of -1,782 contracts from the previous week which had a total of -22,626 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 24.8 percent. The commercials are Bullish with a score of 75.3 percent and the small traders (not shown in chart) are Bearish with a score of 33.1 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.1	53.6	8.3
– Percent of Open Interest Shorts:	40.9	41.4	7.6
– Net Position:	-24,408	23,059	1,349
– Gross Longs:	53,159	101,533	15,747
– Gross Shorts:	77,567	78,474	14,398
– 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):	24.8	75.3	33.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-43.6	45.4	-32.1

Platinum Futures:

The Platinum Futures large speculator standing this week came in at a net position of 2,203 contracts in the data reported through Tuesday. This was a weekly advance of 840 contracts from the previous week which had a total of 1,363 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 6.5 percent. The commercials are Bullish-Extreme with a score of 95.8 percent and the small traders (not shown in chart) are Bearish with a score of 24.7 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	42.9	39.4	12.2
– Percent of Open Interest Shorts:	39.5	49.6	5.4
– Net Position:	2,203	-6,697	4,494
– Gross Longs:	28,253	26,002	8,051
– Gross Shorts:	26,050	32,699	3,557
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.5	95.8	24.7
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-13.0	15.5	-29.7

Palladium Futures:

The Palladium Futures large speculator standing this week came in at a net position of -3,215 contracts in the data reported through Tuesday. This was a weekly rise of 30 contracts from the previous week which had a total of -3,245 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 3.2 percent. The commercials are Bullish-Extreme with a score of 97.1 percent and the small traders (not shown in chart) are Bearish with a score of 20.4 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.9	62.7	11.2
– Percent of Open Interest Shorts:	46.2	22.9	15.7
– Net Position:	-3,215	3,621	-406
– Gross Longs:	996	5,712	1,021
– Gross Shorts:	4,211	2,091	1,427
– Long to Short Ratio:	0.2 to 1	2.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.2	97.1	20.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.7	12.4	-58.1

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

22 May

COT Futures Charts: Soft Commodities Speculator bets mixed

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 May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Soft Commodities market speculator bets were mixed this week as five out of the eleven softs markets we cover had higher positioning this week while six markets saw lower positions. Leading the gains for the soft commodities was Sugar (9,445 contracts) and Soybeans (9,039 contracts) with Wheat (7,120 contracts), Coffee (5,932 contracts) and Corn (2,835 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Soybean Meal (-10,832 contracts) and Lean Hogs (-8,595 contracts) with Live Cattle (-4,773 contracts), Soybean Oil (-4,295 contracts), Cotton (-2,443 contracts) and Cocoa (-2,463 contracts) also coming in with lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

May-17-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,730,665	0	325,637	7	-363,869	95	38,232	69
Gold	555,756	30	175,360	33	-206,879	65	31,519	48
Silver	144,534	11	16,114	38	-24,841	75	8,727	0
Copper	189,483	19	-24,408	25	23,059	75	1,349	33
Palladium	9,114	13	-3,215	3	3,621	97	-406	20
Platinum	65,926	32	2,203	7	-6,697	96	4,494	25
Natural Gas	1,118,417	8	-115,012	44	64,340	51	50,672	100
Brent	176,861	21	-34,867	53	32,127	47	2,740	46
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	709,144	24	183,647	73	-156,937	33	-26,710	26
Corn	1,548,438	29	473,743	91	-424,756	11	-48,987	15
Coffee	206,106	0	38,487	72	-40,949	32	2,462	13
Sugar	825,281	6	196,630	77	-245,374	22	48,744	68
Wheat	326,651	8	28,806	57	-26,020	23	-2,786	98

CORN Futures:

The CORN large speculator standing this week came in at a net position of 473,743 contracts in the data reported through Tuesday. This was a weekly lift of 2,835 contracts from the previous week which had a total of 470,908 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 90.6 percent. The commercials are Bearish-Extreme with a score of 11.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.8 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	38.1	42.2	9.3
– Percent of Open Interest Shorts:	7.5	69.6	12.4
– Net Position:	473,743	-424,756	-48,987
– Gross Longs:	589,352	653,039	143,508
– Gross Shorts:	115,609	1,077,795	192,495
– Long to Short Ratio:	5.1 to 1	0.6 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	90.6	11.4	14.8
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.7	-0.1	8.0

SUGAR Futures:

The SUGAR large speculator standing this week came in at a net position of 196,630 contracts in the data reported through Tuesday. This was a weekly advance of 9,445 contracts from the previous week which had a total of 187,185 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 77.0 percent. The commercials are Bearish with a score of 21.6 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.6	45.9	11.4
– Percent of Open Interest Shorts:	6.8	75.6	5.5
– Net Position:	196,630	-245,374	48,744
– Gross Longs:	252,752	378,422	94,457
– Gross Shorts:	56,122	623,796	45,713
– Long to Short Ratio:	4.5 to 1	0.6 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	77.0	21.6	68.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.7	-1.0	-3.5

COFFEE Futures:

The COFFEE large speculator standing this week came in at a net position of 38,487 contracts in the data reported through Tuesday. This was a weekly increase of 5,932 contracts from the previous week which had a total of 32,555 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 72.1 percent. The commercials are Bearish with a score of 32.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.7 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.0	54.0	4.1
– Percent of Open Interest Shorts:	5.3	73.9	2.9
– Net Position:	38,487	-40,949	2,462
– Gross Longs:	49,501	111,397	8,495
– Gross Shorts:	11,014	152,346	6,033
– Long to Short Ratio:	4.5 to 1	0.7 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.1	32.1	12.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.6	7.1	-21.6

SOYBEANS Futures:

The SOYBEANS large speculator standing this week came in at a net position of 183,647 contracts in the data reported through Tuesday. This was a weekly rise of 9,039 contracts from the previous week which had a total of 174,608 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 72.6 percent. The commercials are Bearish with a score of 33.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.9 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.7	47.8	7.0
– Percent of Open Interest Shorts:	6.8	69.9	10.8
– Net Position:	183,647	-156,937	-26,710
– Gross Longs:	231,911	338,718	49,750
– Gross Shorts:	48,264	495,655	76,460
– Long to Short Ratio:	4.8 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.6	33.0	25.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.3	3.7	2.3

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week came in at a net position of 96,301 contracts in the data reported through Tuesday. This was a weekly decline of -4,295 contracts from the previous week which had a total of 100,596 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 72.5 percent. The commercials are Bearish with a score of 23.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.4 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.1	46.1	10.6
– Percent of Open Interest Shorts:	5.2	77.7	4.9
– Net Position:	96,301	-117,724	21,423
– Gross Longs:	115,709	171,880	39,590
– Gross Shorts:	19,408	289,604	18,167
– Long to Short Ratio:	6.0 to 1	0.6 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.5	23.8	93.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.2	-7.1	21.4

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week came in at a net position of 73,300 contracts in the data reported through Tuesday. This was a weekly decrease of -10,832 contracts from the previous week which had a total of 84,132 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 68.3 percent. The commercials are Bearish with a score of 30.6 percent and the small traders (not shown in chart) are Bullish with a score of 75.3 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.6	47.3	13.9
– Percent of Open Interest Shorts:	8.4	75.2	6.3
– Net Position:	73,300	-100,729	27,429
– Gross Longs:	103,499	171,144	50,082
– Gross Shorts:	30,199	271,873	22,653
– Long to Short Ratio:	3.4 to 1	0.6 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.3	30.6	75.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.1	27.7	-14.2

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week came in at a net position of 35,030 contracts in the data reported through Tuesday. This was a weekly lowering of -4,773 contracts from the previous week which had a total of 39,803 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 22.7 percent. The commercials are Bullish with a score of 70.8 percent and the small traders (not shown in chart) are Bullish with a score of 69.3 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.6	39.2	10.8
– Percent of Open Interest Shorts:	24.0	49.7	12.0
– Net Position:	35,030	-31,417	-3,613
– Gross Longs:	107,168	117,903	32,549
– Gross Shorts:	72,138	149,320	36,162
– Long to Short Ratio:	1.5 to 1	0.8 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	22.7	70.8	69.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-17.2	12.4	16.6

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week came in at a net position of 7,765 contracts in the data reported through Tuesday. This was a weekly lowering of -8,595 contracts from the previous week which had a total of 16,360 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 15.2 percent. The commercials are Bullish-Extreme with a score of 90.3 percent and the small traders (not shown in chart) are Bullish with a score of 70.0 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.9	39.9	10.5
– Percent of Open Interest Shorts:	25.1	41.2	13.0
– Net Position:	7,765	-2,647	-5,118
– Gross Longs:	58,847	81,203	21,361
– Gross Shorts:	51,082	83,850	26,479
– Long to Short Ratio:	1.2 to 1	1.0 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	15.2	90.3	70.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-41.1	42.7	8.5

COTTON Futures:

The COTTON large speculator standing this week came in at a net position of 79,316 contracts in the data reported through Tuesday. This was a weekly decrease of -2,443 contracts from the previous week which had a total of 81,759 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 73.2 percent. The commercials are Bearish with a score of 24.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.4 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.1	34.6	9.2
– Percent of Open Interest Shorts:	6.0	79.4	3.5
– Net Position:	79,316	-90,872	11,556
– Gross Longs:	91,525	70,065	18,559
– Gross Shorts:	12,209	160,937	7,003
– Long to Short Ratio:	7.5 to 1	0.4 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	73.2	24.9	85.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.2	4.0	-12.1

COCOA Futures:

The COCOA large speculator standing this week came in at a net position of 18,583 contracts in the data reported through Tuesday. This was a weekly fall of -2,463 contracts from the previous week which had a total of 21,046 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 35.8 percent. The commercials are Bullish with a score of 62.9 percent and the small traders (not shown in chart) are Bearish with a score of 47.4 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.9	44.5	5.7
– Percent of Open Interest Shorts:	23.5	52.6	4.0
– Net Position:	18,583	-23,668	5,085
– Gross Longs:	87,225	129,740	16,687
– Gross Shorts:	68,642	153,408	11,602
– Long to Short Ratio:	1.3 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	35.8	62.9	47.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-17.7	19.0	-14.9

WHEAT Futures:

The WHEAT large speculator standing this week came in at a net position of 28,806 contracts in the data reported through Tuesday. This was a weekly advance of 7,120 contracts from the previous week which had a total of 21,686 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 22.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.3 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.2	36.8	10.4
– Percent of Open Interest Shorts:	28.4	44.8	11.3
– Net Position:	28,806	-26,020	-2,786
– Gross Longs:	121,593	120,341	33,993
– Gross Shorts:	92,787	146,361	36,779
– Long to Short Ratio:	1.3 to 1	0.8 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.5	22.7	98.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.5	-15.2	9.7

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Financial News Soft Commodities

22 May

COT Charts: Speculator positions were mixed in Energy this week

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 May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Energy market speculator bets were mixed this week as three out of the six energy markets we cover had higher positioning this week.

Overall, the energy markets with higher speculator bets this week were WTI Crude Oil (14,834 contracts), Gasoline (2,420 contracts) and the Bloomberg Commodity Index (3,624 contracts).

The markets with declining speculator bets this week were Brent Crude Oil (-3,652 contracts), Natural Gas (-2,483 contracts) and Heating Oil (-9,228 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

May-17-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,730,665	0	325,637	7	-363,869	95	38,232	69
Gold	555,756	30	175,360	33	-206,879	65	31,519	48
Silver	144,534	11	16,114	38	-24,841	75	8,727	0
Copper	189,483	19	-24,408	25	23,059	75	1,349	33
Palladium	9,114	13	-3,215	3	3,621	97	-406	20
Platinum	65,926	32	2,203	7	-6,697	96	4,494	25
Natural Gas	1,118,417	8	-115,012	44	64,340	51	50,672	100
Brent	176,861	21	-34,867	53	32,127	47	2,740	46
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	709,144	24	183,647	73	-156,937	33	-26,710	26
Corn	1,548,438	29	473,743	91	-424,756	11	-48,987	15
Coffee	206,106	0	38,487	72	-40,949	32	2,462	13
Sugar	825,281	6	196,630	77	-245,374	22	48,744	68
Wheat	326,651	8	28,806	57	-26,020	23	-2,786	98

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week totaled a net position of 325,637 contracts in the data reported through Tuesday. This was a weekly advance of 14,834 contracts from the previous week which had a total of 310,803 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 7.3 percent. The commercials are Bullish-Extreme with a score of 94.9 percent and the small traders (not shown in chart) are Bullish with a score of 68.9 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.0	35.3	5.1
– Percent of Open Interest Shorts:	5.2	56.3	2.9
– Net Position:	325,637	-363,869	38,232
– Gross Longs:	416,190	611,264	88,406
– Gross Shorts:	90,553	975,133	50,174
– Long to Short Ratio:	4.6 to 1	0.6 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	7.3	94.9	68.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.0	-3.3	-12.1

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week totaled a net position of -34,867 contracts in the data reported through Tuesday. This was a weekly reduction of -3,652 contracts from the previous week which had a total of -31,215 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 52.7 percent. The commercials are Bearish with a score of 46.7 percent and the small traders (not shown in chart) are Bearish with a score of 46.3 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.7	50.8	4.7
– Percent of Open Interest Shorts:	35.4	32.7	3.1
– Net Position:	-34,867	32,127	2,740
– Gross Longs:	27,757	89,898	8,270
– Gross Shorts:	62,624	57,771	5,530
– Long to Short Ratio:	0.4 to 1	1.6 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	52.7	46.7	46.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.7	9.3	-5.9

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week totaled a net position of -115,012 contracts in the data reported through Tuesday. This was a weekly lowering of -2,483 contracts from the previous week which had a total of -112,529 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 44.1 percent. The commercials are Bullish with a score of 51.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.7	37.5	6.8
– Percent of Open Interest Shorts:	31.0	31.7	2.2
– Net Position:	-115,012	64,340	50,672
– Gross Longs:	231,576	419,033	75,523
– Gross Shorts:	346,588	354,693	24,851
– Long to Short Ratio:	0.7 to 1	1.2 to 1	3.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	44.1	51.1	100.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.5	-9.0	15.8

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week totaled a net position of 33,798 contracts in the data reported through Tuesday. This was a weekly increase of 2,420 contracts from the previous week which had a total of 31,378 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 Bearish-Extreme with a score of 4.5 percent. The commercials are Bullish-Extreme with a score of 90.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 99.1 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.6	52.8	7.9
– Percent of Open Interest Shorts:	13.6	68.0	3.7
– Net Position:	33,798	-46,770	12,972
– Gross Longs:	75,744	162,371	24,256
– Gross Shorts:	41,946	209,141	11,284
– Long to Short Ratio:	1.8 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.5	90.3	99.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.3	3.3	39.2

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week totaled a net position of 6,455 contracts in the data reported through Tuesday. This was a weekly decline of -9,228 contracts from the previous week which had a total of 15,683 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 51.9 percent. The commercials are Bearish with a score of 36.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 88.4 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.0	50.8	14.4
– Percent of Open Interest Shorts:	15.1	60.1	6.9
– Net Position:	6,455	-32,434	25,979
– Gross Longs:	59,340	177,626	50,210
– Gross Shorts:	52,885	210,060	24,231
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.9	36.7	88.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.2	-10.3	23.6

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week totaled a net position of -9,639 contracts in the data reported through Tuesday. This was a weekly advance of 3,624 contracts from the previous week which had a total of -13,263 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 70.6 percent. The commercials are Bearish with a score of 27.9 percent and the small traders (not shown in chart) are Bearish with a score of 42.1 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	67.2	25.2	2.0
– Percent of Open Interest Shorts:	94.1	0.0	0.2
– Net Position:	-9,639	9,002	637
– Gross Longs:	24,050	9,002	715
– Gross Shorts:	33,689	0	78
– Long to Short Ratio:	0.7 to 1	inf to 1	9.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	70.6	27.9	42.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.9	3.1	-1.8

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

22 May

COT Bonds Futures Charts: Speculator bets mostly lower this week

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 May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Bonds market speculator bets were mostly lower this week as five out of the eight bond markets we cover had lower positioning this week. Most of these markets remain bearish (speculator levels and price levels) in the higher interest rate environment of 2022. The exceptions in the COT speculator positioning are the Fed Funds positions which recently turned positive in early April and have maintained a small bullish level in six out of the past seven weeks. The US Treasury Bond positions also turned positive in early March and have also had a small bullish position in nine out of the past eleven weeks.

Overall, the bond markets with higher speculator bets for this week were Long US Bond (16,554 contracts), 5-Year Bond (65,450 contracts) and the Ultra US Bond (16,954 contracts).

The markets with declining speculator bets this week were the 2-Year Bond (-7,808 contracts), Eurodollar (-273,864 contracts), 10-Year Bond (-74,119 contracts), Ultra 10-Year (-2,421 contracts) and the Fed Funds (-147 contracts).

Speculator strength standings for each Commodity where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme OI Strength = Current Open Interest level compared to last 3 years range Spec Strength = Current Net Speculator level compared to last 3 years range Strength Move = Six week change of Spec Strength

Data Snapshot of Bond Market Traders | Columns Legend

May-17-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	10,381,883	32	-2,874,451	0	3,300,959	100	-426,508	11
FedFunds	1,796,405	58	49,015	46	-45,484	54	-3,531	51
2-Year	2,376,024	26	-134,637	55	209,074	66	-74,437	18
Long T-Bond	1,244,823	57	32,007	95	-14,575	15	-17,432	39
10-Year	3,666,416	41	-160,091	48	318,592	60	-158,501	42
5-Year	3,791,540	37	-260,224	38	417,629	64	-157,405	38

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week reached a net position of -2,874,451 contracts in the data reported through Tuesday. This was a weekly decline of -273,864 contracts from the previous week which had a total of -2,600,587 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 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 10.6 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.2	76.0	3.7
– Percent of Open Interest Shorts:	30.9	44.2	7.8
– Net Position:	-2,874,451	3,300,959	-426,508
– Gross Longs:	336,958	7,889,274	386,384
– Gross Shorts:	3,211,409	4,588,315	812,892
– Long to Short Ratio:	0.1 to 1	1.7 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	10.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.5	5.9	4.6

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week reached a net position of 49,015 contracts in the data reported through Tuesday. This was a weekly lowering of -147 contracts from the previous week which had a total of 49,162 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 45.7 percent. The commercials are Bullish with a score of 54.4 percent and the small traders (not shown in chart) are Bullish with a score of 50.7 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.6	75.5	2.1
– Percent of Open Interest Shorts:	2.8	78.0	2.3
– Net Position:	49,015	-45,484	-3,531
– Gross Longs:	100,043	1,355,889	37,674
– Gross Shorts:	51,028	1,401,373	41,205
– Long to Short Ratio:	2.0 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.7	54.4	50.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.6	-5.3	16.5

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week reached a net position of -134,637 contracts in the data reported through Tuesday. This was a weekly lowering of -7,808 contracts from the previous week which had a total of -126,829 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 55.1 percent. The commercials are Bullish with a score of 65.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.6 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	13.0	76.6	5.8
– Percent of Open Interest Shorts:	18.6	67.8	8.9
– Net Position:	-134,637	209,074	-74,437
– Gross Longs:	307,951	1,818,876	137,690
– Gross Shorts:	442,588	1,609,802	212,127
– Long to Short Ratio:	0.7 to 1	1.1 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.1	65.6	17.6
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.6	8.0	10.7

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week reached a net position of -260,224 contracts in the data reported through Tuesday. This was a weekly boost of 65,450 contracts from the previous week which had a total of -325,674 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 37.5 percent. The commercials are Bullish with a score of 64.2 percent and the small traders (not shown in chart) are Bearish with a score of 37.8 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.9	81.1	7.5
– Percent of Open Interest Shorts:	14.7	70.1	11.7
– Net Position:	-260,224	417,629	-157,405
– Gross Longs:	298,615	3,074,092	284,595
– Gross Shorts:	558,839	2,656,463	442,000
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	37.5	64.2	37.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.7	-16.5	15.8

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week reached a net position of -160,091 contracts in the data reported through Tuesday. This was a weekly decline of -74,119 contracts from the previous week which had a total of -85,972 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 48.1 percent. The commercials are Bullish with a score of 59.7 percent and the small traders (not shown in chart) are Bearish with a score of 42.1 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.6	76.9	8.9
– Percent of Open Interest Shorts:	12.9	68.2	13.2
– Net Position:	-160,091	318,592	-158,501
– Gross Longs:	314,613	2,819,008	325,049
– Gross Shorts:	474,704	2,500,416	483,550
– Long to Short Ratio:	0.7 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	48.1	59.7	42.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	30.8	-29.7	11.0

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week reached a net position of -97,837 contracts in the data reported through Tuesday. This was a weekly fall of -2,421 contracts from the previous week which had a total of -95,416 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 3.4 percent. The commercials are Bullish-Extreme with a score of 91.8 percent and the small traders (not shown in chart) are Bullish with a score of 53.8 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.6	81.6	12.2
– Percent of Open Interest Shorts:	12.6	65.2	20.7
– Net Position:	-97,837	200,995	-103,158
– Gross Longs:	56,209	1,000,137	150,063
– Gross Shorts:	154,046	799,142	253,221
– Long to Short Ratio:	0.4 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.4	91.8	53.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.6	-8.2	20.7

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week reached a net position of 32,007 contracts in the data reported through Tuesday. This was a weekly increase of 16,554 contracts from the previous week which had a total of 15,453 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 95.0 percent. The commercials are Bearish-Extreme with a score of 15.5 percent and the small traders (not shown in chart) are Bearish with a score of 38.8 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.7	72.5	12.3
– Percent of Open Interest Shorts:	9.2	73.6	13.7
– Net Position:	32,007	-14,575	-17,432
– Gross Longs:	146,002	902,140	152,520
– Gross Shorts:	113,995	916,715	169,952
– Long to Short Ratio:	1.3 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	95.0	15.5	38.8
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.0	-7.4	-6.1

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week reached a net position of -294,559 contracts in the data reported through Tuesday. This was a weekly gain of 16,954 contracts from the previous week which had a total of -311,513 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 65.1 percent. The commercials are Bearish with a score of 44.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.1 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.7	81.8	11.6
– Percent of Open Interest Shorts:	26.3	61.5	9.3
– Net Position:	-294,559	264,222	30,337
– Gross Longs:	48,033	1,065,877	151,667
– Gross Shorts:	342,592	801,655	121,330
– Long to Short Ratio:	0.1 to 1	1.3 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	65.1	44.2	50.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.8	-21.4	5.2

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds CountingPips Forex Blog Financial News

15 May

COT Currency Speculators raised British Pound Sterling bearish bets for 10th week

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

The latest COT data is updated through Tuesday May 10th and shows a quick view of how large traders (for-profit speculators and commercial entities) 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 euro will decline versus the dollar.

Highlighting the COT currency data this week was the rise in bearish bets for the British pound sterling currency futures contracts. Pound speculators have raised their bearish bets for a tenth consecutive week this week and for the eleventh time out of the past twelve weeks. Over the past ten-week time-frame, pound bets have dropped by a total of -79,261 contracts, going from -337 net positions on March 1st to a total of -79,598 net positions this week. The deterioration in speculator sentiment has now pushed the pound net position to the most bearish standing of the past one hundred and thirty-seven weeks, dating back to September 24th of 2019.

Pound sterling sentiment has been hit by a recent slowing economy as the UK GDP declined by 0.1 percent in March after flat growth in February. Also, weighing on the UK economy is the war in Ukraine that has sharply raised inflation in the country (and elsewhere) and which could see the UK economy with the lowest growth rate among G7 countries in 2023, according to the IMF.

Overall, the currencies with higher speculator bets this week were the Euro (22,907 contracts), US Dollar Index (1,705 contracts), Bitcoin (315 contracts) and the Mexican peso (2,102 contracts).

The currencies with declining bets were the Japanese yen (-9,660 contracts), Australian dollar (-13,198 contracts), Brazil real (-1,010 contracts), Swiss franc (-1,856 contracts), British pound sterling (-5,785 contracts), New Zealand dollar (-6,386 contracts), Canadian dollar (-14,436 contracts), Russian ruble (-263 contracts) and the Mexican peso (2,102 contracts).

Data Snapshot of Forex Market Traders | Columns Legend

May-10-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	57,556	84	34,776	86	-37,174	13	2,398	43
EUR	705,046	84	16,529	40	-43,026	64	26,497	18
GBP	264,594	80	-79,598	17	95,245	86	-15,647	23
JPY	247,278	87	-110,454	1	124,927	97	-14,473	24
CHF	51,282	37	-15,763	40	29,819	69	-14,056	16
CAD	151,009	31	-5,407	38	2,939	67	2,468	35
AUD	153,209	47	-41,714	46	47,126	54	-5,412	39
NZD	56,235	56	-12,996	49	16,874	56	-3,878	7
MXN	153,858	28	16,725	34	-20,866	64	4,141	61
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	61,450	55	40,778	90	-42,031	10	1,253	79
Bitcoin	10,841	57	703	100	-789	0	86	15

Open Interest is the amount of contracts that were live in the marketplace at time of data.

US Dollar Index Futures:

The US Dollar Index large speculator standing this week came in at a net position of 34,776 contracts in the data reported through Tuesday. This was a weekly lift of 1,705 contracts from the previous week which had a total of 33,071 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 85.8 percent. The commercials are Bearish-Extreme with a score of 12.8 percent and the small traders (not shown in chart) are Bearish with a score of 42.8 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	86.6	3.2	8.6
– Percent of Open Interest Shorts:	26.2	67.8	4.5
– Net Position:	34,776	-37,174	2,398
– Gross Longs:	49,864	1,837	4,970
– Gross Shorts:	15,088	39,011	2,572
– Long to Short Ratio:	3.3 to 1	0.0 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	85.8	12.8	42.8
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.6	-3.4	-19.3

Euro Currency Futures:

The Euro Currency large speculator standing this week came in at a net position of 16,529 contracts in the data reported through Tuesday. This was a weekly increase of 22,907 contracts from the previous week which had a total of -6,378 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 Bearish with a score of 40.1 percent. The commercials are Bullish with a score of 63.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.3 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	53.3	12.0
– Percent of Open Interest Shorts:	30.0	59.4	8.3
– Net Position:	16,529	-43,026	26,497
– Gross Longs:	228,230	376,043	84,921
– Gross Shorts:	211,701	419,069	58,424
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	40.1	63.8	18.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.5	1.2	0.9

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week came in at a net position of -79,598 contracts in the data reported through Tuesday. This was a weekly fall of -5,785 contracts from the previous week which had a total of -73,813 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 16.6 percent. The commercials are Bullish-Extreme with a score of 86.0 percent and the small traders (not shown in chart) are Bearish with a score of 23.2 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.1	79.6	7.6
– Percent of Open Interest Shorts:	41.2	43.6	13.5
– Net Position:	-79,598	95,245	-15,647
– Gross Longs:	29,469	210,627	20,157
– Gross Shorts:	109,067	115,382	35,804
– Long to Short Ratio:	0.3 to 1	1.8 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	16.6	86.0	23.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.5	25.6	-7.7

Japanese Yen Futures:

The Japanese Yen large speculator standing this week came in at a net position of -110,454 contracts in the data reported through Tuesday. This was a weekly decline of -9,660 contracts from the previous week which had a total of -100,794 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 0.8 percent. The commercials are Bullish-Extreme with a score of 96.6 percent and the small traders (not shown in chart) are Bearish with a score of 24.0 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.5	86.2	8.0
– Percent of Open Interest Shorts:	49.2	35.7	13.9
– Net Position:	-110,454	124,927	-14,473
– Gross Longs:	11,196	213,084	19,811
– Gross Shorts:	121,650	88,157	34,284
– Long to Short Ratio:	0.1 to 1	2.4 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.8	96.6	24.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.1	0.0	16.7

Swiss Franc Futures:

The Swiss Franc large speculator standing this week came in at a net position of -15,763 contracts in the data reported through Tuesday. This was a weekly fall of -1,856 contracts from the previous week which had a total of -13,907 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 39.8 percent. The commercials are Bullish with a score of 69.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.5 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.2	74.6	16.1
– Percent of Open Interest Shorts:	40.0	16.5	43.5
– Net Position:	-15,763	29,819	-14,056
– Gross Longs:	4,727	38,258	8,271
– Gross Shorts:	20,490	8,439	22,327
– Long to Short Ratio:	0.2 to 1	4.5 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	39.8	69.2	15.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.7	8.0	-7.6

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week came in at a net position of -5,407 contracts in the data reported through Tuesday. This was a weekly fall of -14,436 contracts from the previous week which had a total of 9,029 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 38.3 percent. The commercials are Bullish with a score of 66.9 percent and the small traders (not shown in chart) are Bearish with a score of 34.7 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.6	49.8	21.8
– Percent of Open Interest Shorts:	29.2	47.9	20.1
– Net Position:	-5,407	2,939	2,468
– Gross Longs:	38,679	75,215	32,880
– Gross Shorts:	44,086	72,276	30,412
– Long to Short Ratio:	0.9 to 1	1.0 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.3	66.9	34.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.0	14.5	-29.0

Australian Dollar Futures:

The Australian Dollar large speculator standing this week came in at a net position of -41,714 contracts in the data reported through Tuesday. This was a weekly decrease of -13,198 contracts from the previous week which had a total of -28,516 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 46.2 percent. The commercials are Bullish with a score of 54.0 percent and the small traders (not shown in chart) are Bearish with a score of 39.2 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.1	59.9	13.1
– Percent of Open Interest Shorts:	51.3	29.1	16.7
– Net Position:	-41,714	47,126	-5,412
– Gross Longs:	36,869	91,731	20,131
– Gross Shorts:	78,583	44,605	25,543
– Long to Short Ratio:	0.5 to 1	2.1 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	46.2	54.0	39.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.3	4.7	-34.4

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week came in at a net position of -12,996 contracts in the data reported through Tuesday. This was a weekly fall of -6,386 contracts from the previous week which had a total of -6,610 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 49.5 percent. The commercials are Bullish with a score of 56.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.4 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	27.0	68.5	3.9
– Percent of Open Interest Shorts:	50.1	38.5	10.8
– Net Position:	-12,996	16,874	-3,878
– Gross Longs:	15,203	38,541	2,216
– Gross Shorts:	28,199	21,667	6,094
– Long to Short Ratio:	0.5 to 1	1.8 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	49.5	56.4	7.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-20.4	26.0	-54.4

Mexican Peso Futures:

The Mexican Peso large speculator standing this week came in at a net position of 16,725 contracts in the data reported through Tuesday. This was a weekly advance of 2,102 contracts from the previous week which had a total of 14,623 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 34.5 percent. The commercials are Bullish with a score of 64.1 percent and the small traders (not shown in chart) are Bullish with a score of 60.6 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	41.5	53.1	4.2
– Percent of Open Interest Shorts:	30.7	66.7	1.5
– Net Position:	16,725	-20,866	4,141
– Gross Longs:	63,921	81,735	6,467
– Gross Shorts:	47,196	102,601	2,326
– Long to Short Ratio:	1.4 to 1	0.8 to 1	2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	34.5	64.1	60.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.6	-10.1	-3.5

Brazilian Real Futures:

The Brazilian Real large speculator standing this week came in at a net position of 40,778 contracts in the data reported through Tuesday. This was a weekly lowering of -1,010 contracts from the previous week which had a total of 41,788 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 90.5 percent. The commercials are Bearish-Extreme with a score of 10.3 percent and the small traders (not shown in chart) are Bullish with a score of 79.4 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	79.5	15.4	5.0
– Percent of Open Interest Shorts:	13.1	83.8	3.0
– Net Position:	40,778	-42,031	1,253
– Gross Longs:	48,835	9,454	3,070
– Gross Shorts:	8,057	51,485	1,817
– Long to Short Ratio:	6.1 to 1	0.2 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	90.5	10.3	79.4
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.8	3.5	-20.6

Russian Ruble Futures:

The Russian Ruble large speculator standing this week came in at a net position of 7,543 contracts in the data reported through Tuesday. This was a weekly fall of -263 contracts from the previous week which had a total of 7,806 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 31.2 percent. The commercials are Bullish with a score of 69.1 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

RUSSIAN RUBLE Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.6	60.6	2.8
– Percent of Open Interest Shorts:	0.5	94.7	4.7
– Net Position:	7,543	-7,150	-393
– Gross Longs:	7,658	12,679	593
– Gross Shorts:	115	19,829	986
– Long to Short Ratio:	66.6 to 1	0.6 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	31.2	69.1	23.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.6	16.7	-18.8

Bitcoin Futures:

The Bitcoin large speculator standing this week came in at a net position of 703 contracts in the data reported through Tuesday. This was a weekly gain of 315 contracts from the previous week which had a total of 388 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-Extreme with a score of 14.9 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	81.1	2.1	9.1
– Percent of Open Interest Shorts:	74.6	9.4	8.3
– Net Position:	703	-789	86
– Gross Longs:	8,789	227	989
– Gross Shorts:	8,086	1,016	903
– Long to Short Ratio:	1.1 to 1	0.2 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	0.0	14.9
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	19.0	-24.9	-13.6

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Forex and Currency News investing Opinions

15 May

COT Metals Charts: Speculator bets mostly lower this week

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 May 10th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Metals speculator bets overall were lower this week with four out of the five metals markets we cover seeing lower bets on the week. The metals markets are seeing a cool off in their speculative positions as well as their prices as most of these markets are down from a short-term peak in early March.

The only market with higher speculator bets this week was Platinum (2,904 contracts).

The markets with declining speculator bets this week were Silver (-8,986 contracts), Gold (-5,853 contracts), Copper (-7,003 contracts) and Palladium (-493 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

May-10-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,736,594	0	310,803	2	-354,479	98	43,676	77
Gold	571,447	34	193,315	40	-227,756	57	34,441	57
Silver	142,752	9	19,082	41	-30,519	69	11,437	9
Copper	184,502	15	-22,626	26	19,249	73	3,377	45
Palladium	8,832	11	-3,245	3	3,434	96	-189	33
Platinum	66,064	32	1,363	5	-5,373	98	4,010	18
Natural Gas	1,108,451	6	-112,529	45	64,006	51	48,523	100
Brent	173,911	19	-31,215	59	30,562	44	653	18
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	694,454	20	174,608	72	-147,698	33	-26,910	26
Corn	1,510,783	23	470,908	90	-415,345	13	-55,563	11
Coffee	212,659	5	32,555	69	-33,559	37	1,004	0
Sugar	797,453	0	187,185	75	-220,611	26	33,426	49
Wheat	308,326	0	21,686	48	-17,779	34	-3,907	92

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week reached a net position of 193,315 contracts in the data reported through Tuesday. This was a weekly lowering of -5,853 contracts from the previous week which had a total of 199,168 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 39.9 percent. The commercials are Bullish with a score of 56.8 percent and the small traders (not shown in chart) are Bullish with a score of 57.3 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	50.6	23.1	9.1
– Percent of Open Interest Shorts:	16.7	63.0	3.1
– Net Position:	193,315	-227,756	34,441
– Gross Longs:	288,947	132,251	52,098
– Gross Shorts:	95,632	360,007	17,657
– Long to Short Ratio:	3.0 to 1	0.4 to 1	3.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	39.9	56.8	57.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-24.1	21.0	19.4

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week reached a net position of 19,082 contracts in the data reported through Tuesday. This was a weekly fall of -8,986 contracts from the previous week which had a total of 28,068 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 41.4 percent. The commercials are Bullish with a score of 69.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.5 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	41.9	36.9	17.4
– Percent of Open Interest Shorts:	28.5	58.3	9.4
– Net Position:	19,082	-30,519	11,437
– Gross Longs:	59,829	52,637	24,862
– Gross Shorts:	40,747	83,156	13,425
– Long to Short Ratio:	1.5 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.4	69.0	9.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-29.1	30.3	-9.9

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week reached a net position of -22,626 contracts in the data reported through Tuesday. This was a weekly lowering of -7,003 contracts from the previous week which had a total of -15,623 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 26.1 percent. The commercials are Bullish with a score of 72.7 percent and the small traders (not shown in chart) are Bearish with a score of 44.8 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.2	50.6	9.3
– Percent of Open Interest Shorts:	43.4	40.1	7.5
– Net Position:	-22,626	19,249	3,377
– Gross Longs:	57,510	93,318	17,183
– Gross Shorts:	80,136	74,069	13,806
– Long to Short Ratio:	0.7 to 1	1.3 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.1	72.7	44.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-38.3	38.9	-19.5

Platinum Futures:

The Platinum Futures large speculator standing this week reached a net position of 1,363 contracts in the data reported through Tuesday. This was a weekly rise of 2,904 contracts from the previous week which had a total of -1,541 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 5.3 percent. The commercials are Bullish-Extreme with a score of 97.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.9 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	43.6	39.8	12.2
– Percent of Open Interest Shorts:	41.5	47.9	6.1
– Net Position:	1,363	-5,373	4,010
– Gross Longs:	28,774	26,293	8,029
– Gross Shorts:	27,411	31,666	4,019
– Long to Short Ratio:	1.0 to 1	0.8 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	5.3	97.6	17.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-18.1	21.2	-38.4

Palladium Futures:

The Palladium Futures large speculator standing this week reached a net position of -3,245 contracts in the data reported through Tuesday. This was a weekly decrease of -493 contracts from the previous week which had a total of -2,752 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 3.0 percent. The commercials are Bullish-Extreme with a score of 96.1 percent and the small traders (not shown in chart) are Bearish with a score of 32.9 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.5	59.0	11.1
– Percent of Open Interest Shorts:	48.2	20.1	13.3
– Net Position:	-3,245	3,434	-189
– Gross Longs:	1,013	5,209	982
– Gross Shorts:	4,258	1,775	1,171
– Long to Short Ratio:	0.2 to 1	2.9 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.0	96.1	32.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.1	11.8	-48.4

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Financial News Metals

15 May

COT Bonds Futures Charts: Speculator bets higher this week

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 May 10th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Bonds market speculator bets mostly rose this week as seven out of the eight bond markets we cover saw higher positioning this week. Most of these markets are deeply bearish (speculator levels and price levels) as bond markets have been declining mightily in this higher interest rate environment this year. This week’s rise in bond speculator bets will likely be short-lived although there have been increasing calls that bond markets may have hit or are approaching a short term bottom.

Overall, the markets with higher speculator bets this week were 2-Year Bond (2,342 contracts), Eurodollar (87,521 contracts), 10-Year Bond (61,565 contracts), Ultra 10-Year (15,302 contracts), Long US Bond (1,942 contracts), Fed Funds (104,415 contracts) and the Ultra US Bond (7,666 contracts).

The only market with declining speculator bets this week was the 5-Year Bond (-6,738 contracts).

Data Snapshot of Bond Market Traders | Columns Legend

May-10-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	10,439,124	33	-2,600,587	3	3,030,504	97	-429,917	10
FedFunds	1,750,404	55	49,162	46	-49,266	54	104	60
2-Year	2,264,774	21	-126,829	57	201,609	64	-74,780	17
Long T-Bond	1,207,560	50	15,453	90	-4,991	19	-10,462	44
10-Year	3,722,697	45	-85,972	59	268,376	54	-182,404	36
5-Year	3,813,677	38	-325,674	26	502,383	75	-176,709	32

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week reached a net position of -2,600,587 contracts in the data reported through Tuesday. This was a weekly boost of 87,521 contracts from the previous week which had a total of -2,688,108 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 3.3 percent. The commercials are Bullish-Extreme with a score of 96.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.8 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.4	75.3	4.1
– Percent of Open Interest Shorts:	28.3	46.3	8.2
– Net Position:	-2,600,587	3,030,504	-429,917
– Gross Longs:	356,101	7,861,403	422,820
– Gross Shorts:	2,956,688	4,830,899	852,737
– Long to Short Ratio:	0.1 to 1	1.6 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.3	96.6	9.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.3	3.2	-0.4

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week reached a net position of 49,162 contracts in the data reported through Tuesday. This was a weekly gain of 104,415 contracts from the previous week which had a total of -55,253 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 45.7 percent. The commercials are Bullish with a score of 53.9 percent and the small traders (not shown in chart) are Bullish with a score of 60.0 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.9	75.2	2.3
– Percent of Open Interest Shorts:	3.1	78.0	2.3
– Net Position:	49,162	-49,266	104
– Gross Longs:	103,238	1,316,147	39,627
– Gross Shorts:	54,076	1,365,413	39,523
– Long to Short Ratio:	1.9 to 1	1.0 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.7	53.9	60.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.8	-10.3	53.3

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week reached a net position of -126,829 contracts in the data reported through Tuesday. This was a weekly rise of 2,342 contracts from the previous week which had a total of -129,171 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 56.7 percent. The commercials are Bullish with a score of 63.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.4 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.1	77.3	6.2
– Percent of Open Interest Shorts:	17.7	68.4	9.5
– Net Position:	-126,829	201,609	-74,780
– Gross Longs:	275,153	1,751,572	140,782
– Gross Shorts:	401,982	1,549,963	215,562
– Long to Short Ratio:	0.7 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.7	63.9	17.4
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-13.7	8.7	11.6

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week reached a net position of -325,674 contracts in the data reported through Tuesday. This was a weekly decrease of -6,738 contracts from the previous week which had a total of -318,936 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 26.1 percent. The commercials are Bullish with a score of 74.5 percent and the small traders (not shown in chart) are Bearish with a score of 32.5 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.6	83.0	7.1
– Percent of Open Interest Shorts:	16.2	69.9	11.8
– Net Position:	-325,674	502,383	-176,709
– Gross Longs:	291,527	3,167,247	271,640
– Gross Shorts:	617,201	2,664,864	448,349
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.1	74.5	32.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.3	-11.7	16.6

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week reached a net position of -85,972 contracts in the data reported through Tuesday. This was a weekly advance of 61,565 contracts from the previous week which had a total of -147,537 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 59.4 percent. The commercials are Bullish with a score of 53.8 percent and the small traders (not shown in chart) are Bearish with a score of 36.2 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.9	76.5	8.4
– Percent of Open Interest Shorts:	13.2	69.2	13.3
– Net Position:	-85,972	268,376	-182,404
– Gross Longs:	406,123	2,846,309	313,590
– Gross Shorts:	492,095	2,577,933	495,994
– Long to Short Ratio:	0.8 to 1	1.1 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.4	53.8	36.2
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	59.4	-46.2	-0.3

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week reached a net position of -95,416 contracts in the data reported through Tuesday. This was a weekly increase of 15,302 contracts from the previous week which had a total of -110,718 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 4.0 percent. The commercials are Bullish-Extreme with a score of 93.4 percent and the small traders (not shown in chart) are Bearish with a score of 48.6 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.5	82.9	11.3
– Percent of Open Interest Shorts:	12.2	66.3	20.3
– Net Position:	-95,416	207,218	-111,802
– Gross Longs:	56,783	1,034,536	141,487
– Gross Shorts:	152,199	827,318	253,289
– Long to Short Ratio:	0.4 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.0	93.4	48.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.7	0.4	12.4

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week reached a net position of 15,453 contracts in the data reported through Tuesday. This was a weekly increase of 1,942 contracts from the previous week which had a total of 13,511 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 89.6 percent. The commercials are Bearish-Extreme with a score of 18.5 percent and the small traders (not shown in chart) are Bearish with a score of 44.3 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.9	72.1	13.0
– Percent of Open Interest Shorts:	9.6	72.5	13.8
– Net Position:	15,453	-4,991	-10,462
– Gross Longs:	131,916	870,932	156,698
– Gross Shorts:	116,463	875,923	167,160
– Long to Short Ratio:	1.1 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	89.6	18.5	44.3
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.2	-0.6	1.9

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week reached a net position of -311,513 contracts in the data reported through Tuesday. This was a weekly advance of 7,666 contracts from the previous week which had a total of -319,179 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 58.1 percent. The commercials are Bullish with a score of 57.2 percent and the small traders (not shown in chart) are Bearish with a score of 43.2 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.6	84.6	11.4
– Percent of Open Interest Shorts:	28.2	61.6	9.8
– Net Position:	-311,513	290,655	20,858
– Gross Longs:	45,084	1,069,894	144,208
– Gross Shorts:	356,597	779,239	123,350
– Long to Short Ratio:	0.1 to 1	1.4 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	58.1	57.2	43.2
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.9	0.8	-9.9

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds CountingPips Forex Blog Financial News

15 May

COT Futures: This Week’s Energy Charts

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 May 10th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The energy markets with higher speculator bets this week were Natural Gas (5,177 contracts) and the Bloomberg Commodity Index (91 contracts).

The markets with declining speculator bets this week were WTI Crude Oil (-10,898 contracts), Brent Crude Oil (-3,897 contracts), Heating Oil (-9,228 contracts) and Gasoline (-7,003 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

May-10-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,736,594	0	310,803	2	-354,479	98	43,676	77
Gold	571,447	34	193,315	40	-227,756	57	34,441	57
Silver	142,752	9	19,082	41	-30,519	69	11,437	9
Copper	184,502	15	-22,626	26	19,249	73	3,377	45
Palladium	8,832	11	-3,245	3	3,434	96	-189	33
Platinum	66,064	32	1,363	5	-5,373	98	4,010	18
Natural Gas	1,108,451	6	-112,529	45	64,006	51	48,523	100
Brent	173,911	19	-31,215	59	30,562	44	653	18
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	694,454	20	174,608	72	-147,698	33	-26,910	26
Corn	1,510,783	23	470,908	90	-415,345	13	-55,563	11
Coffee	212,659	5	32,555	69	-33,559	37	1,004	0
Sugar	797,453	0	187,185	75	-220,611	26	33,426	49
Wheat	308,326	0	21,686	48	-17,779	34	-3,907	92

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week equaled a net position of 310,803 contracts in the data reported through Tuesday. This was a weekly fall of -10,898 contracts from the previous week which had a total of 321,701 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 98.5 percent and the small traders (not shown in chart) are Bullish with a score of 76.6 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.9	35.4	5.2
– Percent of Open Interest Shorts:	6.0	55.8	2.7
– Net Position:	310,803	-354,479	43,676
– Gross Longs:	415,170	614,716	90,689
– Gross Shorts:	104,367	969,195	47,013
– Long to Short Ratio:	4.0 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	2.1	98.5	76.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.8	2.2	3.2

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week equaled a net position of -31,215 contracts in the data reported through Tuesday. This was a weekly fall of -3,897 contracts from the previous week which had a total of -27,318 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 58.8 percent. The commercials are Bearish with a score of 44.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.0 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	19.2	48.1	5.0
– Percent of Open Interest Shorts:	37.2	30.5	4.6
– Net Position:	-31,215	30,562	653
– Gross Longs:	33,423	83,639	8,698
– Gross Shorts:	64,638	53,077	8,045
– Long to Short Ratio:	0.5 to 1	1.6 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	58.8	44.1	18.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-10.1	14.9	-40.0

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week equaled a net position of -112,529 contracts in the data reported through Tuesday. This was a weekly boost of 5,177 contracts from the previous week which had a total of -117,706 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 44.8 percent. The commercials are Bullish with a score of 51.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	21.1	37.9	6.6
– Percent of Open Interest Shorts:	31.3	32.2	2.2
– Net Position:	-112,529	64,006	48,523
– Gross Longs:	234,306	420,582	73,144
– Gross Shorts:	346,835	356,576	24,621
– Long to Short Ratio:	0.7 to 1	1.2 to 1	3.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	44.8	51.0	100.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.5	-9.1	9.6

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week equaled a net position of 31,378 contracts in the data reported through Tuesday. This was a weekly decline of -7,003 contracts from the previous week which had a total of 38,381 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 93.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 97.3 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.6	50.9	8.3
– Percent of Open Interest Shorts:	14.2	65.6	4.0
– Net Position:	31,378	-44,072	12,694
– Gross Longs:	73,929	152,809	24,799
– Gross Shorts:	42,551	196,881	12,105
– Long to Short Ratio:	1.7 to 1	0.8 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	2.1	93.0	97.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.0	3.7	34.1

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week equaled a net position of 6,455 contracts in the data reported through Tuesday. This was a weekly lowering of -9,228 contracts from the previous week which had a total of 15,683 net contracts.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.0	50.8	14.4
– Percent of Open Interest Shorts:	15.1	60.1	6.9
– Net Position:	6,455	-32,434	25,979
– Gross Longs:	59,340	177,626	50,210
– Gross Shorts:	52,885	210,060	24,231
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.9	36.7	88.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.2	-10.3	23.6

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week equaled a net position of -13,263 contracts in the data reported through Tuesday. This was a weekly lift of 91 contracts from the previous week which had a total of -13,354 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 56.8 percent. The commercials are Bearish with a score of 41.9 percent and the small traders (not shown in chart) are Bearish with a score of 41.5 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	57.7	36.7	2.0
– Percent of Open Interest Shorts:	96.2	0.0	0.2
– Net Position:	-13,263	12,644	619
– Gross Longs:	19,888	12,644	703
– Gross Shorts:	33,151	0	84
– Long to Short Ratio:	0.6 to 1	inf to 1	8.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.8	41.9	41.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.0	16.3	-11.1

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

15 May

COT Soft Commodities Charts: Speculator bets mostly cool off this week

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 May 10th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Soft commodities speculator bets cooled off this week with nine out of the eleven markets we cover showing a decrease in their positioning. Soft commodities markets have been red hot this year with the war in Ukraine causing food disruptions, general production problems, food protectionism and, of course, with inflation rising throughout the world.

Overall, the soft commodities that saw higher bets this week were just Soybean Oil (3,305 contracts) and Wheat (1,674 contracts).

Meanwhile, the soft commodities that saw lower speculator bets on the week were Corn (-30,957 contracts), Sugar (-14,407 contracts), Coffee (-8,142 contracts), Soybeans (-15,794 contracts), Soybean Meal (-15,429 contracts), Live Cattle (-7,233 contracts), Lean Hogs (-5,671 contracts), Cotton (-1,674 contracts) and Cocoa (-15,513 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

May-10-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,736,594	0	310,803	2	-354,479	98	43,676	77
Gold	571,447	34	193,315	40	-227,756	57	34,441	57
Silver	142,752	9	19,082	41	-30,519	69	11,437	9
Copper	184,502	15	-22,626	26	19,249	73	3,377	45
Palladium	8,832	11	-3,245	3	3,434	96	-189	33
Platinum	66,064	32	1,363	5	-5,373	98	4,010	18
Natural Gas	1,108,451	6	-112,529	45	64,006	51	48,523	100
Brent	173,911	19	-31,215	59	30,562	44	653	18
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	694,454	20	174,608	72	-147,698	33	-26,910	26
Corn	1,510,783	23	470,908	90	-415,345	13	-55,563	11
Coffee	212,659	5	32,555	69	-33,559	37	1,004	0
Sugar	797,453	0	187,185	75	-220,611	26	33,426	49
Wheat	308,326	0	21,686	48	-17,779	34	-3,907	92

CORN Futures:

The CORN large speculator standing this week totaled a net position of 470,908 contracts in the data reported through Tuesday. This was a weekly reduction of -30,957 contracts from the previous week which had a total of 501,865 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 90.2 percent. The commercials are Bearish-Extreme with a score of 12.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.1 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.9	42.7	8.9
– Percent of Open Interest Shorts:	6.8	70.2	12.6
– Net Position:	470,908	-415,345	-55,563
– Gross Longs:	573,327	644,830	134,903
– Gross Shorts:	102,419	1,060,175	190,466
– Long to Short Ratio:	5.6 to 1	0.6 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	90.2	12.8	11.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.4	1.3	1.1

SUGAR Futures:

The SUGAR large speculator standing this week totaled a net position of 187,185 contracts in the data reported through Tuesday. This was a weekly lowering of -14,407 contracts from the previous week which had a total of 201,592 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 75.1 percent. The commercials are Bearish with a score of 26.3 percent and the small traders (not shown in chart) are Bearish with a score of 49.2 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.5	45.8	10.8
– Percent of Open Interest Shorts:	8.0	73.5	6.6
– Net Position:	187,185	-220,611	33,426
– Gross Longs:	251,330	365,263	86,129
– Gross Shorts:	64,145	585,874	52,703
– Long to Short Ratio:	3.9 to 1	0.6 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	75.1	26.3	49.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	5.3	-3.4	-9.6

COFFEE Futures:

The COFFEE large speculator standing this week totaled a net position of 32,555 contracts in the data reported through Tuesday. This was a weekly decrease of -8,142 contracts from the previous week which had a total of 40,697 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 69.2 percent. The commercials are Bearish with a score of 36.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.8	56.1	3.6
– Percent of Open Interest Shorts:	8.5	71.9	3.1
– Net Position:	32,555	-33,559	1,004
– Gross Longs:	50,564	119,399	7,690
– Gross Shorts:	18,009	152,958	6,686
– Long to Short Ratio:	2.8 to 1	0.8 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	69.2	36.5	0.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.9	7.3	-20.9

SOYBEANS Futures:

The SOYBEANS large speculator standing this week totaled a net position of 174,608 contracts in the data reported through Tuesday. This was a weekly fall of -15,794 contracts from the previous week which had a total of 190,402 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 71.9 percent. The commercials are Bearish with a score of 33.1 percent and the small traders (not shown in chart) are Bearish with a score of 25.6 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	48.2	7.1
– Percent of Open Interest Shorts:	7.3	69.5	11.0
– Net Position:	174,608	-147,698	-26,910
– Gross Longs:	225,260	334,792	49,376
– Gross Shorts:	50,652	482,490	76,286
– Long to Short Ratio:	4.4 to 1	0.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	71.9	33.1	25.6
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.3	7.8	1.3

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week totaled a net position of 100,596 contracts in the data reported through Tuesday. This was a weekly lift of 3,305 contracts from the previous week which had a total of 97,291 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 76.6 percent. The commercials are Bearish with a score of 21.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.5 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.0	45.8	9.9
– Percent of Open Interest Shorts:	4.8	77.9	5.0
– Net Position:	100,596	-118,831	18,235
– Gross Longs:	118,463	169,761	36,820
– Gross Shorts:	17,867	288,592	18,585
– Long to Short Ratio:	6.6 to 1	0.6 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	76.6	21.8	81.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.7	-8.6	10.0

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week totaled a net position of 84,132 contracts in the data reported through Tuesday. This was a weekly reduction of -15,429 contracts from the previous week which had a total of 99,561 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 74.3 percent. The commercials are Bearish with a score of 26.8 percent and the small traders (not shown in chart) are Bullish with a score of 57.5 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.7	47.1	12.5
– Percent of Open Interest Shorts:	7.4	77.1	5.9
– Net Position:	84,132	-108,059	23,927
– Gross Longs:	110,648	169,583	45,065
– Gross Shorts:	26,516	277,642	21,138
– Long to Short Ratio:	4.2 to 1	0.6 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	74.3	26.8	57.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-21.0	22.2	-25.5

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week totaled a net position of 39,803 contracts in the data reported through Tuesday. This was a weekly fall of -7,233 contracts from the previous week which had a total of 47,036 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 26.5 percent. The commercials are Bullish with a score of 66.7 percent and the small traders (not shown in chart) are Bullish with a score of 67.9 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.0	38.1	10.8
– Percent of Open Interest Shorts:	23.1	49.7	12.1
– Net Position:	39,803	-35,783	-4,020
– Gross Longs:	111,188	117,509	33,291
– Gross Shorts:	71,385	153,292	37,311
– Long to Short Ratio:	1.6 to 1	0.8 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.5	66.7	67.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-14.7	8.4	22.1

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week totaled a net position of 16,360 contracts in the data reported through Tuesday. This was a weekly reduction of -5,671 contracts from the previous week which had a total of 22,031 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 24.6 percent. The commercials are Bullish-Extreme with a score of 80.7 percent and the small traders (not shown in chart) are Bullish with a score of 67.8 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.7	38.0	10.2
– Percent of Open Interest Shorts:	23.1	43.0	12.8
– Net Position:	16,360	-10,817	-5,543
– Gross Longs:	66,483	82,353	22,102
– Gross Shorts:	50,123	93,170	27,645
– Long to Short Ratio:	1.3 to 1	0.9 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	24.6	80.7	67.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-40.1	40.4	13.7

COTTON Futures:

The COTTON large speculator standing this week totaled a net position of 81,759 contracts in the data reported through Tuesday. This was a weekly decline of -1,674 contracts from the previous week which had a total of 83,433 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 74.8 percent. The commercials are Bearish with a score of 23.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.2 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	46.8	33.8	8.5
– Percent of Open Interest Shorts:	6.3	79.6	3.1
– Net Position:	81,759	-92,603	10,844
– Gross Longs:	94,579	68,251	17,191
– Gross Shorts:	12,820	160,854	6,347
– Long to Short Ratio:	7.4 to 1	0.4 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	74.8	23.9	81.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.5	2.7	-14.1

COCOA Futures:

The COCOA large speculator standing this week totaled a net position of 21,046 contracts in the data reported through Tuesday. This was a weekly decline of -15,513 contracts from the previous week which had a total of 36,559 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 38.3 percent. The commercials are Bullish with a score of 59.9 percent and the small traders (not shown in chart) are Bullish with a score of 53.8 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.0	44.1	6.1
– Percent of Open Interest Shorts:	23.5	53.6	4.0
– Net Position:	21,046	-26,770	5,724
– Gross Longs:	87,140	124,216	17,042
– Gross Shorts:	66,094	150,986	11,318
– Long to Short Ratio:	1.3 to 1	0.8 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.3	59.9	53.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-18.3	21.1	-30.6

WHEAT Futures:

The WHEAT large speculator standing this week totaled a net position of 21,686 contracts in the data reported through Tuesday. This was a weekly gain of 1,674 contracts from the previous week which had a total of 20,012 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 48.3 percent. The commercials are Bearish with a score of 34.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 92.3 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.2	39.1	9.7
– Percent of Open Interest Shorts:	29.1	44.9	10.9
– Net Position:	21,686	-17,779	-3,907
– Gross Longs:	111,546	120,631	29,835
– Gross Shorts:	89,860	138,410	33,742
– Long to Short Ratio:	1.2 to 1	0.9 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	48.3	34.4	92.3
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.4	-11.9	1.2

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Financial News Soft Commodities

07 May

Currency Speculators drop Euro bets into bearish territory on interest rates & low growth

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 May 3rd 2022 and shows a quick view of how large traders (for-profit speculators and commercial entities) 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 euro will decline versus the dollar.

Highlighting the COT currency data was the continued drop in speculator bets for European common currency futures contracts. Euro speculators reduced their bets for the third straight week this week and have now trimmed the net position by a total of -45,438 contracts over this three-week period. This decreasing sentiment among speculators accelerated this week with a large drop of -28,579 contracts and knocked the net contract level back into a bearish position for the first time since the beginning of October 2021.

The fundamental backdrop for the euro is one of weak growth and low interest rates compared to many of the other major currency countries. The Eurozone GDP for the first quarter of 2022 amounted to just 0.2 percent growth following a fourth quarter of 2021 growth reading of 0.3 percent. The war in Ukraine combined with surging inflation and weakening consumer demand has some banks believing a GDP contraction could be on the horizon while others see parity in the euro versus the US dollar as inevitable. Eurozone interest rates are forecasted to rise this year but they have been behind their major currency counterparts. The US, Canada, UK, Australia and New Zealand have all raised their benchmark interest rates over the past quarter and look likely to see more over the year, possibly widening the interest rate differential even more if the European Central Bank does not act.

This week was a very rare week when all the currencies we cover had lower speculator bets including the Euro (-28,579 contracts), Canadian dollar (-11,852 contracts), New Zealand dollar (-6,676 contracts), Mexican peso (-5,503 contracts), Japanese yen (-5,259 contracts), Brazil real (-5,096 contracts), British pound sterling (-4,192 contracts), Swiss franc (-1,038 contracts), US Dollar Index (-808 contracts), Australian dollar (-865 contracts) and Bitcoin (-24 contracts).

Data Snapshot of Forex Market Traders | Columns Legend

May-03-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	54,092	76	33,071	83	-35,684	15	2,613	45
EUR	694,926	80	-6,378	33	-24,586	69	30,964	26
GBP	268,496	82	-73,813	21	89,026	82	-15,213	24
JPY	254,813	92	-100,794	7	120,264	94	-19,470	14
CHF	49,385	31	-13,907	46	30,542	68	-16,635	7
CAD	152,779	32	9,029	56	-12,959	51	3,930	38
AUD	152,257	46	-28,516	58	34,225	44	-5,709	39
NZD	50,844	45	-6,610	60	9,879	46	-3,269	14
MXN	151,933	27	14,623	34	-18,552	65	3,929	60
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	61,549	56	41,788	91	-43,371	9	1,583	83
Bitcoin	10,051	52	388	100	-429	0	41	14

US Dollar Index Futures:

The US Dollar Index large speculator standing this week came in at a net position of 33,071 contracts in the data reported through Tuesday. This was a weekly lowering of -808 contracts from the previous week which had a total of 33,879 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 82.8 percent. The commercials are Bearish-Extreme with a score of 15.3 percent and the small traders (not shown in chart) are Bearish with a score of 45.1 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	85.5	2.7	9.8
– Percent of Open Interest Shorts:	24.4	68.6	5.0
– Net Position:	33,071	-35,684	2,613
– Gross Longs:	46,264	1,439	5,296
– Gross Shorts:	13,193	37,123	2,683
– Long to Short Ratio:	3.5 to 1	0.0 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	82.8	15.3	45.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	5.9	-3.6	-13.9

Euro Currency Futures:

The Euro Currency large speculator standing this week came in at a net position of -6,378 contracts in the data reported through Tuesday. This was a weekly lowering of -28,579 contracts from the previous week which had a total of 22,201 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 33.0 percent. The commercials are Bullish with a score of 69.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.7 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.0	55.1	12.7
– Percent of Open Interest Shorts:	30.9	58.7	8.2
– Net Position:	-6,378	-24,586	30,964
– Gross Longs:	208,449	383,222	88,267
– Gross Shorts:	214,827	407,808	57,303
– Long to Short Ratio:	1.0 to 1	0.9 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	33.0	69.0	25.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.3	6.2	13.9

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week came in at a net position of -73,813 contracts in the data reported through Tuesday. This was a weekly decline of -4,192 contracts from the previous week which had a total of -69,621 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 20.8 percent. The commercials are Bullish-Extreme with a score of 82.3 percent and the small traders (not shown in chart) are Bearish with a score of 24.1 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.5	77.7	7.7
– Percent of Open Interest Shorts:	40.0	44.6	13.3
– Net Position:	-73,813	89,026	-15,213
– Gross Longs:	33,536	208,754	20,590
– Gross Shorts:	107,349	119,728	35,803
– Long to Short Ratio:	0.3 to 1	1.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	20.8	82.3	24.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-26.3	22.8	-4.3

Japanese Yen Futures:

The Japanese Yen large speculator standing this week came in at a net position of -100,794 contracts in the data reported through Tuesday. This was a weekly lowering of -5,259 contracts from the previous week which had a total of -95,535 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 6.8 percent. The commercials are Bullish-Extreme with a score of 94.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.9 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.3	84.6	7.1
– Percent of Open Interest Shorts:	46.8	37.4	14.7
– Net Position:	-100,794	120,264	-19,470
– Gross Longs:	18,585	215,563	18,007
– Gross Shorts:	119,379	95,299	37,477
– Long to Short Ratio:	0.2 to 1	2.3 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.8	94.3	13.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-13.7	7.5	13.9

Swiss Franc Futures:

The Swiss Franc large speculator standing this week came in at a net position of -13,907 contracts in the data reported through Tuesday. This was a weekly decline of -1,038 contracts from the previous week which had a total of -12,869 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 45.7 percent. The commercials are Bullish with a score of 68.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.3 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.8	75.8	15.0
– Percent of Open Interest Shorts:	37.0	13.9	48.7
– Net Position:	-13,907	30,542	-16,635
– Gross Longs:	4,357	37,429	7,397
– Gross Shorts:	18,264	6,887	24,032
– Long to Short Ratio:	0.2 to 1	5.4 to 1	0.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.7	68.3	7.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.6	11.9	-14.5

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week came in at a net position of 9,029 contracts in the data reported through Tuesday. This was a weekly decrease of -11,852 contracts from the previous week which had a total of 20,881 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 55.7 percent. The commercials are Bullish with a score of 51.2 percent and the small traders (not shown in chart) are Bearish with a score of 37.6 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.2	47.5	21.0
– Percent of Open Interest Shorts:	23.3	56.0	18.4
– Net Position:	9,029	-12,959	3,930
– Gross Longs:	44,670	72,629	32,093
– Gross Shorts:	35,641	85,588	28,163
– Long to Short Ratio:	1.3 to 1	0.8 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.7	51.2	37.6
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.8	-4.0	-17.1

Australian Dollar Futures:

The Australian Dollar large speculator standing this week came in at a net position of -28,516 contracts in the data reported through Tuesday. This was a weekly decrease of -865 contracts from the previous week which had a total of -27,651 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 58.4 percent. The commercials are Bearish with a score of 44.4 percent and the small traders (not shown in chart) are Bearish with a score of 38.5 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.9	52.6	14.0
– Percent of Open Interest Shorts:	49.6	30.2	17.8
– Net Position:	-28,516	34,225	-5,709
– Gross Longs:	46,995	80,147	21,330
– Gross Shorts:	75,511	45,922	27,039
– Long to Short Ratio:	0.6 to 1	1.7 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	58.4	44.4	38.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	21.0	-10.6	-20.8

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week came in at a net position of -6,610 contracts in the data reported through Tuesday. This was a weekly decrease of -6,676 contracts from the previous week which had a total of 66 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 60.2 percent. The commercials are Bearish with a score of 45.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.4 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	34.3	60.6	4.8
– Percent of Open Interest Shorts:	47.3	41.1	11.2
– Net Position:	-6,610	9,879	-3,269
– Gross Longs:	17,427	30,789	2,423
– Gross Shorts:	24,037	20,910	5,692
– Long to Short Ratio:	0.7 to 1	1.5 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	60.2	45.6	14.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.3	18.4	-32.3

Mexican Peso Futures:

The Mexican Peso large speculator standing this week came in at a net position of 14,623 contracts in the data reported through Tuesday. This was a weekly reduction of -5,503 contracts from the previous week which had a total of 20,126 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 33.6 percent. The commercials are Bullish with a score of 65.1 percent and the small traders (not shown in chart) are Bullish with a score of 59.7 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	42.0	52.3	4.5
– Percent of Open Interest Shorts:	32.4	64.5	1.9
– Net Position:	14,623	-18,552	3,929
– Gross Longs:	63,860	79,394	6,771
– Gross Shorts:	49,237	97,946	2,842
– Long to Short Ratio:	1.3 to 1	0.8 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	33.6	65.1	59.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.9	-13.5	-0.9

Brazilian Real Futures:

The Brazilian Real large speculator standing this week came in at a net position of 41,788 contracts in the data reported through Tuesday. This was a weekly lowering of -5,096 contracts from the previous week which had a total of 46,884 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 91.4 percent. The commercials are Bearish-Extreme with a score of 9.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 83.3 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	81.2	13.5	5.3
– Percent of Open Interest Shorts:	13.3	83.9	2.8
– Net Position:	41,788	-43,371	1,583
– Gross Longs:	49,991	8,280	3,278
– Gross Shorts:	8,203	51,651	1,695
– Long to Short Ratio:	6.1 to 1	0.2 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	91.4	9.0	83.3
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.2	1.1	-15.4

Bitcoin Futures:

The Bitcoin large speculator standing this week came in at a net position of 388 contracts in the data reported through Tuesday. This was a weekly decrease of -24 contracts from the previous week which had a total of 412 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 99.5 percent. The commercials are Bearish-Extreme with a score of 7.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.9 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	80.8	3.0	8.6
– Percent of Open Interest Shorts:	76.9	7.2	8.2
– Net Position:	388	-429	41
– Gross Longs:	8,121	298	867
– Gross Shorts:	7,733	727	826
– Long to Short Ratio:	1.1 to 1	0.4 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	99.5	7.1	13.9
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.0	4.2	-10.0

Article By InvestMacro – Receive our weekly COT Reports by Email

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