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COT: Specs rush back into metals; weak crude conviction
Our weekly Commitment of Traders update highlights future positions and changes made by hedge funds and other speculators across commodities, forex and bonds during the week to Tuesday, August 29. A week that included the markets' initial, and very positive risk-on response to data pointing to a softening US job market as well as declining consumer confidence. The ‘bad news is good’ reaction was driven by market speculation the Federal Reserve was getting closer to cease its aggressive tightening campaign. Commodities rose strongly with gains seen across all sectors led by precious metals. The COT reports are ... (full story)