Highlighting the #CO... dari InvestMacro

Highlighting the #COT# #Bonds# data this week is the increase in bearishness of the 10-Year Treasury Note speculators. The #US10-Year# #speculators# positions fell by -26,809 net contracts this week and have now declined in four out of the past five weeks. Speculator net positions have experienced a huge drop of -450,183 contracts in just that 5-week period. This bearishness has dropped the current spec level to the most bearish standing since February 18th of 2020, a span of ninety-one weeks. Looking at the overall situation in the 10-Year futures market shows that speculators (-294,141 contracts) and small traders (-304,450 contracts) currently make up the bearish side while the commercial hedgers (598,591 contracts) are very bullish and sport a strength index score of 99 percent. This means that commercial #traders# are right at the top of their range of bullishness over the past three years and as these traders can eventually move markets, this situation bears watching.

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The Silver speculator position comes in as the most bullish extreme standing this week. The Silver speculator level is currently at a 100.0 percent score of its 3-year range.

InvestMacro

The #Copper# Grade #1 Futures large speculator standing this week was a net position of 23,739 contracts in the data reported through Tuesday. This was a weekly decrease of -8,716 contracts from the previous week which had a total of 32,455 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 55.3 percent. The commercials are Bearish with a score of 40.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.3 percent. Price Trend-Following Model: Weak Downtrend Our weekly trend-following model classifies the current market price position as: Weak Downtrend.

InvestMacro

The Australian dollar speculator position sharply rose for a second straight week this week with a gain of +17,980 contracts following last week’s +23,129 contract rise. The Aussie spec position has seen a marked improvement since hitting an all-time low on March 19th at -107,538 contracts with this week’s standing coming in at -23,676 contracts. This is the least bearish level since June 29th of 2021, almost exactly three years ago.

InvestMacro