CoT Update for EUR/USD, AUD/USD, Gold Price & More

CoT Highlights:

  • Euro short not big, but most extreme since early 2017
  • Aussie short sits near record extreme, but could change
  • Gold positioning and volatility hanging out around 20-year extreme

For a timelier look at sentiment in major currencies and markets, see the IG Client Sentiment page.

The most recent report didn’t show anything earth-shattering in terms of one-week changes. It was generally more of the same; USD bullishness persists, and against some currencies to a degree matching long-term extremes. Conviction in gold is hard to find in a historically lackluster trading environment, but maybe that can change here at some point soon.

On Fridays the CFTC releases a detailed report of traders’ positioning in the futures market as reported for the week ending on Tuesday. Outlined in the table below are key stats concerning the positioning of large speculators (i.e. hedge funds, CTAs, etc.), excluding small speculators and commercial traders.

‘Large specs’ are known to typically employ trend-following strategies, and as such, they tend to add to long positions and reduce shorts in uptrends while reducing long positions and increasing shorts in downtrends. When analyzing the data, we take into consideration the

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