By using our website you agree to our use of cookies in accordance with our cookie policy.
Okay
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider.
Show more
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. Losses can exceed deposits on some products.
Show less
General.Accessibility.Close
FOREX 6 minutes to read

COT: Funds trim dollar long and bond short

Ole Hansen

Head of Commodity Strategy, Saxo Bank Group

Summary:  Speculators trimmed their dollar long positions against nine IMM currency futures for a second week running but sentiment remains strongly in favour of the greenback with short positions held in all apart from MXN and RUB.

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 October 23, click here. 

To download your copy of the Commitment of Traders: Financials report for the week ending October 23, click here.

Enlarge
Buying was most noticeable in GBP, CAD and not least JPY where short positions were reduced for a second week in response to ongoing market jitters. Small selling of the EUR resulted in the largest bearish position since March 2017.
Enlarge
Leveraged funds cut their short exposure to the US yield curve in the week to October 23. This came during a choppy trading week where US 10-year yields dropped from 3.21% to 3.11% in response to weaker stocks and ongoing concerns about Italy.
Enlarge

The DV01, which measures the dollar value of a one basis point move in yields, dropped to $245 million, the least bearish in eight weeks. 

Enlarge
‪

The non-commercial short position in C’boe VIX was cut by 69% to 10k lots, a five-month low.

Share

Access both platforms from your single Saxo account.

Try the Demo
Open Account

Related Articles

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)