1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Gold specs added to longs and trimmed shorts - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    Research Team at TDS, lists down the CFTC Commitment of Traders Report for the Week Ending March 1st, 2016.

    Key Quotes

    “Gold specs added to longs (up 63% YTD) and trimmed shorts (down over 50% YTD), with most of the shift in sentiment occurring over the last few weeks. This doesn't necessarily signal an immediate end, with long positions at just 77% of the 2011 peak and shorts positions still ~40k lots more than 2011 low levels, but as US economic data turns away from gloom and Fed hikes return to the forefront, the rally could be nearing its last legs under current conditions.

    Speculative investors responded to chatter that OPEC ex. Iran may be getting ready to commit to a flat production profile and sliding US output by again lengthening their net holdings by 0.6% of open interest. They also reacted to an improving global demand outlook, after China cut the RRR and US data came in somewhat more positive-than-expected. The fact that WTI crude finished above $36 this week and given that new China stimulus is pending, short-covering driven position length extension could again be in the cards next week as many specs see a bottom.”
    For more information, read our latest forex news.
     

Share This Page