Weekly CoT Update – Sellers in USD, Crude Oil Speculators Keep Hitting Bids

CoT Highlights:

  • USD speculative longs pared for the most part
  • Crude oil selling continues, with potential for more
  • Large speculator profiles for other major currencies/markets

See the IG Client Sentiment pagefor a timelier look at sentiment in major currencies and markets.

The Friday CoT report, despite the US Dollar Index (DXY) contract still gaining long interest, showed USD selling against most currencies – Euro, Pound, Australian Dollar, New Zealand Dollar, and Swiss Franc. There was some light buying versus the Canadian Dollar and Japanese Yen. Speculators continue to purge oil contracts as the net-long held for some time continues to quickly shrink, a trend which may continue if certain technical developments soon take hold.

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

Article source: https://www.dailyfx.com/forex/technical/article/cot/2018/11/19/Weekly-CoT-Update-Sellers-in-USD-Crude-Oil-Speculators-Keep-Hitting-Bids-PRtech.html