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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.
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COT: GBP selling spiked ahead of May’s resignation

Forex 4 minutes to read
Strats-Ole-88x88
Ole Hansen

Head of Commodity Strategy

Summary:  Speculators reversed course on the dollar during the week to May 21. Following two weeks of selling they turned buyers to the tune of $1.3bn against ten IMM currency futures.

Saxo Bank publishes two weekly Commitment of Traders reports (COT) covering leveraged fund positions in commodities, bonds and stock index futures. For IMM currency futures and the VIX, we use the broader measure called non-commercial.

To download your copy of the Commitment of Traders: Forex report for the week ending May 15, click here

To download your copy of the Commitment of Traders: Financials report for the week ending May 15, click here 
non-commercial dollar positions
forex
financials

Outrageous Predictions 2023: The War Economy

  • OP drawing - 352x202 Mobile number 1

    Billionaire coalition creates trillion-dollar Manhattan Project for energy

    The constantly growing global need for energy drives the world's richest to huddle up and launch a R&D project in a size the world hasn't seen since the Manhattan Project gave the US the first atomic bomb.
    Read article
  • OP drawing - 352x202 Mobile number 2

    French President Macron resigns

    The political stalemate in France and the rise of Marie Le Pen following the 2022 elections corners President Macron, forcing him to give up on politics and resign from his position. At least for now.
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    Gold rockets to USD 3,000 as central banks fail on inflation mandate

    As markets and central banks realise that the idea that inflation is transitory is wrong, and that prices will remain higher for longer, gold is sent through the roof, hitting a price tag of USD 3,000
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  • OP drawing - 352x202 Mobile number 4

    EU Army forces EU down path to full union

    With continued challenges in the region and a US military that isn't aggressively enacting its former role as global policeman, the European Union agrees to create its own armed forces, bringing the whole region closer.
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  • OP drawing - 352x202 Mobile number 5

    A country agrees to ban all meat production by 2030

    In an effort to become one of the global leaders on the path to net-zero emissions, one country decides to not only put a heavy tax on meat, but to ban domestic production entirely.
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  • OP drawing - 352x202 Mobile number 6

    UK holds UnBrexit referendum

    Following a recession and domestic pressure, the United Kingdom is thrown into political turmoil that will end with a vote to wind back Brexit.
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    Widespread price controls are introduced to cap official inflation

    History tells us that with the war economy comes rationing and price controls. And this time is no different, as policymakers introduce strict price controls that lead to a range of unintended consequences.
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    OPEC+ & Chindia walk out of the IMF, agree to trade with new reserve asset

    Sanctions against Russia have caused widespread turmoil due to US Dollar moves in countries across the globe that don't consider the US an ally. To relieve themselves from this, they leave the IMF and create a new reserve asset.
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  • OP drawing - 352x202 Mobile number 9

    USDJPY fixed to the USD at 200 as Japan overhauls financial system

    Following the challenges that faced the Japanese Yen in 2022, the Bank of Japan attempts to keep the currency from sliding. Unsuccessful on the long-term, Japan will launch a reset of its entire financial system.
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    Tax haven ban kills private equity

    With the war economy comes an increased focus on national interests and sovereign nations' ability to assert themselves. In that regard, the OECD countries turn their attention on tax havens and pull the big guns out, banning them altogether.
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