The other side of th...from InvestMacro

The other side of the COT data this week is the continued strength of the #USDollarIndex# speculator positions. The USD Index speculator bets fell this week for a third straight week but remain very much near their recent highs. Speculative positions recently had three straight weeks of over at least +40,000 net contracts for the first time since 2019 while the speculator position also topped +45,000 contracts (on June 21st) for the first time since March 21st of 2017, a span of 274 weeks. The strong sentiment for the dollar has helped boost the US Dollar Index price to a high over 109.00 this week, reaching the highest level since 2002. With the two largest components of the US Dollar Index, the Euro at 57.6 percent of the index and the Japanese yen at 13.6 percent, so weak at the moment, the #DXY# might challenge the 110 exchange rate in the weeks to come. #USDollarIndex#

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The Silver speculator position comes in as the most bullish extreme standing this week. The Silver speculator level is currently at a 100.0 percent score of its 3-year range.

InvestMacro

3-Year Strength Scores led by Mexican Peso & British Pound COT 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 (100 percent) and the British Pound (82 percent) lead the currency markets this week. Bitcoin (69 percent) comes in as the next highest in the weekly strength scores. On the downside, the Swiss Franc (0 percent), the Japanese Yen (0 percent), the US Dollar Index (1 percent), the Australian Dollar (4 percent) and the Canadian Dollar (16 percent) come in at the lowest strength levels currently and are all in Extreme-Bearish territory (below 20 percent). Strength Statistics: US Dollar Index (0.9 percent) vs US Dollar Index previous week (3.5 percent) EuroFX (27.5 percent) vs EuroFX previous week (33.6 percent) British Pound Sterling (82.1 percent) vs British Pound Sterling previous week (76.6 percent) Japanese Yen (0.0 percent) vs Japanese Yen previous week (11.5 percent) Swiss Franc (0.0 percent) vs Swiss Franc previous week (1.1 percent) Canadian Dollar (16.1 percent) vs Canadian Dollar previous week (16.9 percent) Australian Dollar (4.4 percent) vs Australian Dollar previous week (1.9 percent) New Zealand Dollar (39.0 percent) vs New Zealand Dollar previous week (43.3 percent) Mexican Peso (100.0 percent) vs Mexican Peso previous week (99.2 percent) Brazilian Real (30.3 percent) vs Brazilian Real previous week (45.8 percent) Bitcoin (68.8 percent) vs Bitcoin previous week (50.2 percent)

InvestMacro

The Silver Comex Futures large speculator standing this week was a net position of 60,431 contracts in the data reported through Tuesday. This was a weekly reduction of -5,924 contracts from the previous week which had a total of 66,355 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-Extreme with a score of 92.5 percent. The commercials are Bearish-Extreme with a score of 3.5 percent and the small traders (not shown in chart) are Bullish with a score of 76.1 percent. Price Trend-Following Model: Strong Uptrend Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

InvestMacro