-
EUR/USD, Gold, S&P 500 analysis: Commitment of traders report (COT)
We highlighted the potential for a sentiment extreme on EUR/USD futures, and it appears as though bulls are seriously questioning their net-long exposure. A combination of trimmed longs and new shorts saw net-long exposure decline for the first week in six, and at its fastest pace in nearly a year at -13.4k contracts (or -7.1%). 8.7k long contracts were closed and 4.7k long contracts were added. And we see the potential for further longs to be closed out in the week/s ahead, as bets on a 25bp Fed hike in June now sit at an ~655 probability, according to Fed Fund futures pricing. chart Commitment of traders – as ... (full story)