Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).The latest Commitment of Traders (COT) data is updated through Tuesday October 24th and shows a quick view of how large market participants (for-profit speculators and for-profit speculators) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.Weekly Speculator Changes led by US Dollar Index & Japanese YenThe COT currency market speculator bets were slightly lower this week as five out of the eleven currency markets we cover had higher positioning while the other six markets had lower speculator contracts.Leading the gains for the currency markets was the Japanese Yen (3,029 contracts) with the EuroFX (2,843 contracts), the Swiss Franc (1,983 contracts), the Brazilian Real (1,689 contracts) and the US Dollar Index (504 contracts) also showing positive weeks.The currencies seeing declines in speculator bets on the week were the British Pound (-7,427 contracts), the New Zealand Dollar (-6,952 contracts), the Mexican Peso (-6,444 contracts), the Australian Dollar (-2,342 contracts), Bitcoin (-781 contracts) and the Canadian Dollar (-100 contracts) also registering lower bets on the week.Speculators drop their British Pound bets for 9th week to 30-week lowHighlighting the COT currency’s data is the sliding trend in the speculator’s positioning of the British Pound Sterling. Large speculative Sterling positions fell this week by over -7,400 contracts and have now declined for nine consecutive weeks. The Sterling speculative level has dropped by a total of -77,743 contracts over these past nine weeks to the lowest level of the past 30-weeks, dating back to March 28th.Relatively recently, the bullish bets for the Sterling (+63,729 contracts on July 18th) had risen to the highest level since July 31st of 2007, a span of almost exactly sixteen years. This marked the highest level for this year’s bullish bets but the speculator positions did a u-turn and have now fallen in twelve out of the fourteen weeks since then.Hurting the pound’s outlook has been a weak economic landscape and the expectation that the Bank of England could be done with raising interest rates. The BOE, this year, has boosted the bank’s interest rate to the highest level since 2008 at 5.25 percent to fight high inflation (which has eased to 6.7 percent).The Pound Sterling exchange rate against the US Dollar has been in a downtrend since hitting a high over the 1.3000 level in the middle of July. Since that 2023 summer ascension, the Sterling has been dropping sharply, falling through the 1.2500 exchange rate and is currently testing support in the 1.2050-1.2100 range.Data Snapshot of Forex Market Traders | Columns Legend

Oct-24-2023	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
EUR	702,668	39	85,253	57	-107,996	49	22,743	15
JPY	260,909	82	-99,629	11	104,809	87	-5,180	43
GBP	233,259	57	-18,636	43	27,337	61	-8,701	41
AUD	194,666	54	-83,081	13	98,853	92	-15,772	14
MXN	194,530	35	37,861	62	-40,188	37	2,327	26
CAD	184,747	49	-48,639	9	53,600	93	-4,961	12
CHF	59,266	92	-15,095	15	27,136	89	-12,041	18
NZD	57,243	74	-12,851	22	16,051	81	-3,200	12
BRL	51,454	41	5,185	42	-6,903	56	1,718	50
USD Index	42,670	42	19,671	58	-20,531	43	860	16
RUB	20,930	4	7,543	31	-7,150	69	-393	24
Bitcoin	19,678	100	-454	60	-438	0	892	33

 Strength Scores led by Mexican Peso & BitcoinCOT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that the Mexican Peso (62 percent) and the Bitcoin (60 percent) lead the currency markets this week. The US Dollar Index (58 percent), EuroFX (57 percent) and the British Pound (43 percent) came in as the next highest in the weekly strength scores.On the downside, the Canadian Dollar (9 percent), the Japanese Yen (11 percent), the Australian Dollar (13 percent) and the Swiss Franc (15 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).Strength Statistics:
US Dollar Index (57.7 percent) vs US Dollar Index previous week (56.9 percent)
EuroFX (56.6 percent) vs EuroFX previous week (55.4 percent)
British Pound Sterling (42.8 percent) vs British Pound Sterling previous week (48.0 percent)
Japanese Yen (10.9 percent) vs Japanese Yen previous week (9.1 percent)
Swiss Franc (15.2 percent) vs Swiss Franc previous week (9.8 percent)
Canadian Dollar (9.2 percent) vs Canadian Dollar previous week (9.3 percent)
Australian Dollar (12.7 percent) vs Australian Dollar previous week (14.8 percent)
New Zealand Dollar (21.9 percent) vs New Zealand Dollar previous week (40.0 percent)
Mexican Peso (62.2 percent) vs Mexican Peso previous week (66.2 percent)
Brazilian Real (42.4 percent) vs Brazilian Real previous week (40.2 percent)
Bitcoin (59.6 percent) vs Bitcoin previous week (71.3 percent) US Dollar Index & New Zealand Dollar top the 6-Week Strength TrendsCOT Strength Scores (or move index, calculates the 6-week changes in strength scores) showed that the US Dollar Index (23 percent) and the New Zealand Dollar (5 percent) lead the past six weeks trends for the currencies. The Japanese Yen (-1 percent), the Australian Dollar (-3 percent) and the Canadian Dollar (-6 percent) are the next highest positive movers in the latest trends data.The British Pound (-45 percent) leads the downside trend scores currently with the Bitcoin (-40 percent), Mexican Peso (-18 percent) and the Swiss Franc (-16 percent) following next with lower trend scores.Strength Trend Statistics:
US Dollar Index (22.7 percent) vs US Dollar Index previous week (26.4 percent)
EuroFX (-11.9 percent) vs EuroFX previous week (-22.9 percent)
British Pound Sterling (-45.0 percent) vs British Pound Sterling previous week (-40.0 percent)
Japanese Yen (-0.5 percent) vs Japanese Yen previous week (-3.3 percent)
Swiss Franc (-15.8 percent) vs Swiss Franc previous week (-32.2 percent)
Canadian Dollar (-6.3 percent) vs Canadian Dollar previous week (-22.0 percent)
Australian Dollar (-3.2 percent) vs Australian Dollar previous week (2.6 percent)
New Zealand Dollar (4.6 percent) vs New Zealand Dollar previous week (21.1 percent)
Mexican Peso (-17.7 percent) vs Mexican Peso previous week (-14.2 percent)
Brazilian Real (-10.2 percent) vs Brazilian Real previous week (-13.3 percent)
Bitcoin (-40.4 percent) vs Bitcoin previous week (-25.8 percent)Individual COT Forex Markets:US Dollar Index Futures:The US Dollar Index large speculator standing this week came in at a net position of 19,671 contracts in the data reported through Tuesday. This was a weekly advance of 504 contracts from the previous week which had a total of 19,167 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 57.7 percent. The commercials are Bearish with a score of 43.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.9 percent.Price Trend-Following Model: Strong UptrendOur weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

US DOLLAR INDEX Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 65.9 21.7 9.9 – Percent of Open Interest Shorts: 19.8 69.8 7.9 – Net Position: 19,671 -20,531 860 – Gross Longs: 28,130 9,255 4,240 – Gross Shorts: 8,459 29,786 3,380 – Long to Short Ratio: 3.3 to 1 0.3 to 1 1.3 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 57.7 43.2 15.9 – Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: 22.7 -20.3 -9.9

 Euro Currency Futures:The Euro Currency large speculator standing this week came in at a net position of 85,253 contracts in the data reported through Tuesday. This was a weekly increase of 2,843 contracts from the previous week which had a total of 82,410 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 56.6 percent. The commercials are Bearish with a score of 48.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.3 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

EURO Currency Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 30.7 56.4 11.4 – Percent of Open Interest Shorts: 18.5 71.8 8.2 – Net Position: 85,253 -107,996 22,743 – Gross Longs: 215,569 396,435 80,233 – Gross Shorts: 130,316 504,431 57,490 – Long to Short Ratio: 1.7 to 1 0.8 to 1 1.4 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 56.6 48.8 15.3 – Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -11.9 15.7 -22.6

 British Pound Sterling Futures:The British Pound Sterling large speculator standing this week came in at a net position of -18,636 contracts in the data reported through Tuesday. This was a weekly decline of -7,427 contracts from the previous week which had a total of -11,209 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 Bearish with a score of 42.8 percent. The commercials are Bullish with a score of 61.0 percent and the small traders (not shown in chart) are Bearish with a score of 41.0 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

BRITISH POUND Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 28.8 56.9 11.4 – Percent of Open Interest Shorts: 36.8 45.2 15.1 – Net Position: -18,636 27,337 -8,701 – Gross Longs: 67,119 132,744 26,540 – Gross Shorts: 85,755 105,407 35,241 – Long to Short Ratio: 0.8 to 1 1.3 to 1 0.8 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 42.8 61.0 41.0 – Strength Index Reading (3 Year Range): Bearish Bullish Bearish NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -45.0 43.9 -26.9

 Japanese Yen Futures:The Japanese Yen large speculator standing this week came in at a net position of -99,629 contracts in the data reported through Tuesday. This was a weekly gain of 3,029 contracts from the previous week which had a total of -102,658 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 Bearish-Extreme with a score of 10.9 percent. The commercials are Bullish-Extreme with a score of 86.8 percent and the small traders (not shown in chart) are Bearish with a score of 42.9 percent.Price Trend-Following Model: DowntrendOur weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

JAPANESE YEN Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 11.9 71.4 14.3 – Percent of Open Interest Shorts: 50.1 31.3 16.3 – Net Position: -99,629 104,809 -5,180 – Gross Longs: 30,964 186,381 37,435 – Gross Shorts: 130,593 81,572 42,615 – Long to Short Ratio: 0.2 to 1 2.3 to 1 0.9 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 10.9 86.8 42.9 – Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -0.5 -0.9 5.6

 Swiss Franc Futures:The Swiss Franc large speculator standing this week came in at a net position of -15,095 contracts in the data reported through Tuesday. This was a weekly gain of 1,983 contracts from the previous week which had a total of -17,078 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 Bearish-Extreme with a score of 15.2 percent. The commercials are Bullish-Extreme with a score of 88.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.8 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SWISS FRANC Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 16.5 67.0 16.4 – Percent of Open Interest Shorts: 42.0 21.2 36.7 – Net Position: -15,095 27,136 -12,041 – Gross Longs: 9,807 39,724 9,692 – Gross Shorts: 24,902 12,588 21,733 – Long to Short Ratio: 0.4 to 1 3.2 to 1 0.4 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 15.2 88.7 17.8 – Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -15.8 26.8 -32.5

 Canadian Dollar Futures:The Canadian Dollar large speculator standing this week came in at a net position of -48,639 contracts in the data reported through Tuesday. This was a weekly lowering of -100 contracts from the previous week which had a total of -48,539 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 Bearish-Extreme with a score of 9.2 percent. The commercials are Bullish-Extreme with a score of 92.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.8 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CANADIAN DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 12.1 68.8 17.2 – Percent of Open Interest Shorts: 38.4 39.8 19.9 – Net Position: -48,639 53,600 -4,961 – Gross Longs: 22,326 127,101 31,815 – Gross Shorts: 70,965 73,501 36,776 – Long to Short Ratio: 0.3 to 1 1.7 to 1 0.9 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 9.2 92.6 11.8 – Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -6.3 2.9 5.4

 Australian Dollar Futures:The Australian Dollar large speculator standing this week came in at a net position of -83,081 contracts in the data reported through Tuesday. This was a weekly fall of -2,342 contracts from the previous week which had a total of -80,739 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 Bearish-Extreme with a score of 12.7 percent. The commercials are Bullish-Extreme with a score of 91.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.0 percent.Price Trend-Following Model: DowntrendOur weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

AUSTRALIAN DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 14.4 73.3 9.6 – Percent of Open Interest Shorts: 57.1 22.6 17.7 – Net Position: -83,081 98,853 -15,772 – Gross Longs: 28,018 142,753 18,606 – Gross Shorts: 111,099 43,900 34,378 – Long to Short Ratio: 0.3 to 1 3.3 to 1 0.5 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 12.7 91.6 14.0 – Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -3.2 2.9 -0.8

 New Zealand Dollar Futures:The New Zealand Dollar large speculator standing this week came in at a net position of -12,851 contracts in the data reported through Tuesday. This was a weekly lowering of -6,952 contracts from the previous week which had a total of -5,899 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 Bearish with a score of 21.9 percent. The commercials are Bullish-Extreme with a score of 81.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.9 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

NEW ZEALAND DOLLAR Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 23.5 69.4 5.1 – Percent of Open Interest Shorts: 45.9 41.3 10.7 – Net Position: -12,851 16,051 -3,200 – Gross Longs: 13,448 39,718 2,942 – Gross Shorts: 26,299 23,667 6,142 – Long to Short Ratio: 0.5 to 1 1.7 to 1 0.5 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 21.9 81.3 11.9 – Strength Index Reading (3 Year Range): Bearish Bullish-Extreme Bearish-Extreme NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: 4.6 -2.7 -6.7

 Mexican Peso Futures:The Mexican Peso large speculator standing this week came in at a net position of 37,861 contracts in the data reported through Tuesday. This was a weekly lowering of -6,444 contracts from the previous week which had a total of 44,305 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 62.2 percent. The commercials are Bearish with a score of 37.4 percent and the small traders (not shown in chart) are Bearish with a score of 26.0 percent.Price Trend-Following Model: Strong DowntrendOur weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

MEXICAN PESO Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 28.0 68.4 3.0 – Percent of Open Interest Shorts: 8.5 89.1 1.8 – Net Position: 37,861 -40,188 2,327 – Gross Longs: 54,446 133,105 5,771 – Gross Shorts: 16,585 173,293 3,444 – Long to Short Ratio: 3.3 to 1 0.8 to 1 1.7 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 62.2 37.4 26.0 – Strength Index Reading (3 Year Range): Bullish Bearish Bearish NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -17.7 18.6 -14.6

 Brazilian Real Futures:The Brazilian Real large speculator standing this week came in at a net position of 5,185 contracts in the data reported through Tuesday. This was a weekly boost of 1,689 contracts from the previous week which had a total of 3,496 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 Bearish with a score of 42.4 percent. The commercials are Bullish with a score of 56.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.4 percent.Price Trend-Following Model: DowntrendOur weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

BRAZIL REAL Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 39.3 52.4 6.8 – Percent of Open Interest Shorts: 29.2 65.8 3.5 – Net Position: 5,185 -6,903 1,718 – Gross Longs: 20,203 26,973 3,505 – Gross Shorts: 15,018 33,876 1,787 – Long to Short Ratio: 1.3 to 1 0.8 to 1 2.0 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 42.4 56.2 50.4 – Strength Index Reading (3 Year Range): Bearish Bullish Bullish NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -10.2 10.2 -2.5

 Bitcoin Futures:The Bitcoin large speculator standing this week came in at a net position of -454 contracts in the data reported through Tuesday. This was a weekly decline of -781 contracts from the previous week which had a total of 327 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 59.6 percent. The commercials are Bullish with a score of 57.3 percent and the small traders (not shown in chart) are Bearish with a score of 33.2 percent.Price Trend-Following Model: Weak Downtrend (Possible Trend Change)Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

BITCOIN Statistics SPECULATORS COMMERCIALS SMALL TRADERS – Percent of Open Interest Longs: 75.3 3.3 8.2 – Percent of Open Interest Shorts: 77.6 5.5 3.7 – Net Position: -454 -438 892 – Gross Longs: 14,814 641 1,617 – Gross Shorts: 15,268 1,079 725 – Long to Short Ratio: 1.0 to 1 0.6 to 1 2.2 to 1 NET POSITION TREND:       – Strength Index Score (3 Year Range Pct): 59.6 57.3 33.2 – Strength Index Reading (3 Year Range): Bullish Bullish Bearish NET POSITION MOVEMENT INDEX:       – 6-Week Change in Strength Index: -40.4 57.3 13.2

 *Commitment of Traders (COT): The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually commercial hedgers) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.All information and opinions on this website and contained in this article are for general informational purposes only and do not constitute investment advice.More By This Author:Speculator Extremes: VIX, Heating Oil, Dow-Mini & 2-Year Lead COT Bullish & Bearish Positions
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