Macro Intelligence
COT Report
Weekly positioning of speculators, commercials and small traders in currency, gold, oil, equity and Bitcoin futures, from the CFTC Commitments of Traders report.
Upcoming events
Major releases, next 7 days
High impact
Next 24 hours · – this week
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MarketSpeculators netWeek ΔCommercials netWeek ΔSmall traders netWeek ΔSpeculators, 3-year range
Euro: positioning over time
Speculators (funds)Commercials (hedgers)Small traders
- Speculators long / short
- 229,383 / 387,174
- Commercials long / short
- 507,069 / 382,218
- Open interest
- 876,122
ReadingSpeculators are net short 157,791 contracts and cut 13,897 this week; that is 0 on a 0–100 scale of the last three years (crowded short). Commercials, mostly hedgers, are net long, which usually runs against the trend.
What COT can tell you
Which way the big funds lean in futures, how fast they are changing it, and when positioning is near a 3-year extreme, which can mean much of the move has already happened.
What it cannot
It is weekly and published three days late, so it is not a live order book. It shows futures only, not the spot market, and commercials often hedge rather than bet on direction. Use it as context, never as an entry signal.